RE:Decision on cylindrical battery production facilityThis following remainder of my immediately previous reply for you is a wee bit long winded (lol) tinkvid; and yet, if it's worth stating, I say it's always worth adequately stating.
Such new BOD appointees are not going to be able to work their magic, so to speak, after such a short interval having elapsed since having been appointed.
Not unless said appointees had been most specifically dispatched to serving as said company directorate members in order to duly perform a previously agreed to and collectively determined requisite function.
The function I speak to would be a very involved and collaborative task which is intended to be "facilitative" of certain most senior "capital investments allocating decisions making representatives" favorably confirming a proposed (as would have been proposed by both NanoXplore and Martinrea representatives and Investessement Quebec representatives) and duly deliberated upon capital investments and additional future invested supports centric decision.
What I am getting at is the inherent groundwork which must be adequately performed before such very large sums of invested capital infusions and aditionally invested supports can be directed toward a investment vehicle co-owned by both NanoXplore and Martinrea International (VoltaXplore) and also directed toward greatly supporting one of VoltaXplore's 50% co-owners, NanoXplore Inc (at least $60 Million worth of invested capital for NanoXplore).
Always keep in mind that persons who are operating on behalf of or directly employed by the would be joint providers (see the "CGF") of the now expected capital investments infusions, must "predictably conclude" their final decision making process, with respect to specifically allocating sufficient capital investments funding for both NanoXplore and VoltaXplore, amongst many other previously selected and Canadian Govrnments designated winning Canadian based equities issuers.
The newly appointed board of directors representatives, both at Martinrea International and at NanoXplore, are there to gather and have verify all required information from both companies, so as to better allow representatives acting on behalf of the Quebec provincial government and the Government of Canada (obviously amongst co-investing others, see the administrators of the "CGF") to know everything necessary to be known about both corporate owners of the VoltaXplore investment enterprise.
When you want the Government of Quebec and the Government of Canada to become assured and "first secured investors" and therefore immense capital investments provisioners for your VoltaXplore 50/50 co-owned investment enterprise or for NanoXplore itself, it's expected that the governments you want to get into bed with require the necessary prerequisite examination of the parties with whom said governments are planning to get into bed with, in a strictly business sense of course, lol.
That's in part why the newly appointed BOD representatives were necessarily brought onboard tinkvid.
It's either the sufficient amounts of invested capital is coming in support of Martinrea, NanoXplore and their co-owned VoltaXplore investment enterprise from the Government of Canada or Martinrea International would be made to pick up stakes and move it's operations to either Quebec and/or the U.S.
"Money has no God", said Rob Wildeboer, Martinrea's CEO and Executive Chairman. He said "corporations will build manufacturing operations right next to their customers and suggested that corporations would tend to do so within jurisdictions unambiguously supportive of such corporations, doing so in a consistent and most predictable fashion.
After all, a New York based (family office) private equity player already owns enough of Martinrea international to make exactly that happen.
There go all those Ontario, Canada jobs which Martinrea International provides for Canadian constituents and tax payers., eh?