Magna International Inc. (T.MG) hit a new 52-week high of $71.22 Friday. Magna has put a new twist on joining thermoplastic materials in order to help automakers cut weight and costs: torsional welding. The torsional welding process, developed by Magna for automotive applications at its exteriors plant in Liberec, Czech Republic, presents a new way to join plastics. It features a high-speed twisting motion that creates enough friction-based heat to join a plastic bracket to a thermoplastic fascia.
The innovative technology achieves an approximate 10% weight reduction because it allows thinner materials to be joined, which in turn reduces material costs. Torsional welding is currently used to make the front fascia of the 2017 Skoda Octavia, and it has potential for other applications where materials of similar composition need to be joined.
Toronto-Dominion Bank (T.TD) hit a new 52-week high of $72.70 Friday. TD Bank ranks highest in small business banking in the South Region, according to the 2017 J.D. Power Small Business Banking Satisfaction Study. This is the first time TD Bank has captured the trophy in the South.
National Bank of Canada (T.NA) hit a new 52-week high of $62.94 Friday. No news announcements today
Genworth MI Canada Inc. (T.MIC) hit a new 52-week high of $40.19 Friday. No news announcements today
Fairfax Africa Holdings Corporation (T.FAH.U) hit a new 52-week high of $15.00 Friday. No news announcements today
First Asset Morningstar National Bank Quebec Index ETF (T.QXM)hit a new 52-week high of $19.93 Friday. No news announcements today
Cargojet Inc. (T.CJT) hit a new 52-week high of $54.18 Friday. No news announcements today
Dominion Diamond Corporation (T.DDC) hit a new 52-week high of $18.27 Friday. No news announcements today
Fortis Inc. (T.FTS) hit a new 52-week high of $47.30 Friday. No news announcements today
Descartes Systems Group Inc. (T.DSG) hit a new 52-week high of $37.60 Friday. No news announcements today
