Foreign ownership of companies of Canada
Encyclopedia
Foreign ownership of companies of Canada has long been a controversial political issue in Canada
. Concerns regarding foreign ownership
generally regard ownership of previously 'Canadian' assets by individuals or companies based in other countries.
Note that the exact definition of "foreign-owned" is debated, and that this article uses the working definition established at foreign ownership
. Some estimates state that more than 50% of the petroleum and gas industry and more than 50% of all manufacturing in Canada is foreign-owned and foreign-controlled.
Historically, foreign ownership was a political issue in Canada in the late 1960s and early 1970s, when it was believed by some that U.S. investment had reached new heights (though its levels had actually remained stable for decades), and then in the 1980s, during debates over the Free Trade Agreement.
But the situation has changed, since in the interim period Canada itself became a major investor and owner of foreign corporations. Since the 1980s, Canada's levels of investment and ownership in foreign companies have been larger than foreign investment and ownership in Canada. In some smaller countries, such as Montenegro, Canadian investment is sizable enough to make up a major portion of the economy. In the British province of Northern Ireland, for example, Canada is the largest foreign investor. By becoming foreign owners themselves, Canadians have become far less politically concerned about investment within Canada.
Of note is that Canada's largest companies by value, and largest employers, tend to be foreign-owned in a way that is more typical of a developing nation than a G8
member. The best example is the automotive sector, one of Canada's most important industries. It is dominated by American, German, and Japanese giants. Although this situation is not unique to Canada in the global context, it is unique among G-8 nations, and many other relatively small nations also have national automotive companies.
2003 - Percentage of operating revenues of Canadian industries that were from foreign-controlled companies:
- Manufacturing - 51.8%,
- Oil and gas - 49.9%,
- Finance and insurance - 23.7%,
2004 - Foreign-controlled profits soared to a record $68 billion in 2004, up 21.7% from the previous year.
2004 - Foreign-controlled corporations accounted for 21.9% of assets held in Canada, and 30.0% of operating revenues yet comprised less than 1% (approx. 8,000) of the total 1.3 million corporations in Canada. Assets of foreign-controlled corporations rose 8.3% to $1.1 trillion in 2004, while those of Canadian-controlled corporations rose 8.9% to $3.9 trillion.
2004 - Foreign-controlled corporations operating revenues in Canada averaged $96 million, compared with less than $2 million for their Canadian-controlled counterparts.
Foreign Controlled Corporations:
Assets in Year 2000 - 833,970 Million
Assets in Year 2004 - 1,090,526 Million
August 2006 (Source - ROBTV)
Foreign purchases in 2006: 34 Canadian companies purchased by foreign interests worth 62 Billion dollars, nearly 4% of Canada's Market value
number of Canada based fortune 500 companies
2005 - 66
2009 - 52 (one of them from the merger of suncor and petro Canada) most of the other 13 are from foreign takeovers.
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. Concerns regarding foreign ownership
Foreign ownership
Foreign ownership refers to the complete or majority ownership/control of a business or resource in a country by individuals who are not citizens of that country, or by companies whose headquarters are not in that country.-See also:...
generally regard ownership of previously 'Canadian' assets by individuals or companies based in other countries.
Note that the exact definition of "foreign-owned" is debated, and that this article uses the working definition established at foreign ownership
Foreign ownership
Foreign ownership refers to the complete or majority ownership/control of a business or resource in a country by individuals who are not citizens of that country, or by companies whose headquarters are not in that country.-See also:...
. Some estimates state that more than 50% of the petroleum and gas industry and more than 50% of all manufacturing in Canada is foreign-owned and foreign-controlled.
Historically, foreign ownership was a political issue in Canada in the late 1960s and early 1970s, when it was believed by some that U.S. investment had reached new heights (though its levels had actually remained stable for decades), and then in the 1980s, during debates over the Free Trade Agreement.
But the situation has changed, since in the interim period Canada itself became a major investor and owner of foreign corporations. Since the 1980s, Canada's levels of investment and ownership in foreign companies have been larger than foreign investment and ownership in Canada. In some smaller countries, such as Montenegro, Canadian investment is sizable enough to make up a major portion of the economy. In the British province of Northern Ireland, for example, Canada is the largest foreign investor. By becoming foreign owners themselves, Canadians have become far less politically concerned about investment within Canada.
Of note is that Canada's largest companies by value, and largest employers, tend to be foreign-owned in a way that is more typical of a developing nation than a G8
G8
The Group of Eight is a forum, created by France in 1975, for the governments of seven major economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. In 1997, the group added Russia, thus becoming the G8...
member. The best example is the automotive sector, one of Canada's most important industries. It is dominated by American, German, and Japanese giants. Although this situation is not unique to Canada in the global context, it is unique among G-8 nations, and many other relatively small nations also have national automotive companies.
Foreign owned companies among Canada's current largest companies
- Asia Pacific Marine Container Lines (Asia Pacific Group Canada), one of Canada's largest cargo transport companies owned by Leung Maritime Group, Hong KongHong KongHong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
- General Motors CanadaGeneral Motors CanadaGeneral Motors of Canada Limited is General Motors' Canadian division. Its national headquarters office, Canadian Regional Engineering Centre, and main manufacturing plants are located in Oshawa, Ontario. GM Canada is 100% owned by GM.As of Apr...
, Canada's largest automotive manufacturer, owned by Detroit-based, General MotorsGeneral MotorsGeneral Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010... - Wal-Mart CanadaWal-Mart CanadaWal-Mart Canada Corp. is the Canadian unit of Walmart and was founded in 1994 in Mississauga, Ontario with the purchase of the Canadian Woolco stores from Woolworth Canada....
, wholly owned by Wal-MartWal-MartWal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
of the US - Toyota Canada Inc.Toyota Canada Inc.Toyota Canada Inc. is the exclusive Canadian distributor of Toyota, Scion and Lexus cars, SUVs and trucks, and Toyota Industrial Equipment. Toyota Canada's head office is in Toronto, with regional offices in Vancouver, Calgary, Montreal and Halifax...
owned by Japan's Toyota - Ford Motor Company of CanadaFord Motor Company of CanadaFord Motor Company of Canada, Limited was founded in 1904 for the purpose of manufacturing and selling Ford automobiles in Canada and the British Empire. The Ford Motor Company in Detroit transferred the patent and selling rights to the Walkerville Wagon Company, in order to avoid the tariff rates...
, owned by the American Ford company - Imperial OilImperial OilImperial Oil Limited is Canada's largest petroleum company. The company is engaged in the exploration, production and sale of crude oil and natural gas. It is controlled by US based ExxonMobil, which owns 69.6% of its stock...
, controlled by ExxonMobilExxonMobilExxon Mobil Corporation or ExxonMobil, is an American multinational oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil. Its headquarters are in Irving, Texas...
, which owns 69.8% of its stock. - DaimlerChrysler CanadaDaimlerChrysler CanadaChrysler Canada Incorporated is Chrysler's Canadian subsidiary. Incorporated in 1925, the Chrysler Corporation of Canada gained complete control of a Maxwell-Chalmers plant in Windsor Ontario that had been used to manufacture some Chrysler models in the previous year...
owned by German-American giant DaimlerChryslerDaimlerChryslerDaimler AG is a German car corporation. By unit sales, it is the thirteenth-largest car manufacturer and second-largest truck manufacturer in the world. In addition to automobiles, Daimler manufactures buses and provides financial services through its Daimler Financial Services arm... - Shell CanadaShell CanadaShell Canada Limited is the subsidiary of Dutch-based Royal Dutch Shell and one of Canada's largest integrated oil companies. Exploration and production of oil, natural gas and sulphur is a major part of its business, as well as the marketing of gasoline and related products through the company's...
, owned by Royal Dutch ShellRoyal Dutch ShellRoyal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
. - British Petroleum CanadaBritish Petroleum CanadaBP Canada Energy Company is a Canadian oil and gas company that is a subsidiary of British-owned BP plc . It began operations in 1948 and for many years was in retail operations until they were acquired by Petro-Canada in 1982...
, owned by British Petroleum - Mitsui and Company, part of the Japanese MitsuiMitsuiis one of the largest corporate conglomerates in Japan and one of the largest publicly traded companies in the world.-History:Founded by Mitsui Takatoshi , who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture...
empire - Honda Canada Inc.Honda Canada Inc.Honda Canada Inc. is the Canadian division of the Honda Motor Company. Founded in 1969, Honda has been building cars in Canada since 1986. The head office is in Toronto, Ontario.-Corporate head office:...
, owned by HondaHondais a Japanese public multinational corporation primarily known as a manufacturer of automobiles and motorcycles.Honda has been the world's largest motorcycle manufacturer since 1959, as well as the world's largest manufacturer of internal combustion engines measured by volume, producing more than...
of Japan - UltramarUltramarUltramar is a Canadian oil refining and marketing company formerly known as Golden Eagle or Aigle d'or. Its head office is in Montreal...
fuels, owned by US-based Valero - CostcoCostcoCostco Wholesale Corporation is the largest membership warehouse club chain in the United States. it is the third largest retailer in the United States, where it originated, and the ninth largest in the world...
, whose Canadian operations are the 7th largest private company in Canada as of 2006, is based in Seattle - Labatt Brewing CompanyLabatt Brewing CompanyLabatt Brewing Company Ltd. is a Canadian beer company founded by John Kinder Labatt in 1847 in London, Ontario. In 1995, it was purchased by Belgian brewer Interbrew; it is now part of Anheuser-Busch InBev...
purchased by Belgian brewer InterbrewInterbrewInterbrew was a large Belgium-based brewing company which owned many internationally known beers, as well as some smaller local beers. In 2004 Interbrew merged with Brazilian brewer AmBev to form InBev, which is the now largest brewer in the world by volume, with a 13% global market share now...
in 1995 - Hudson's Bay CompanyHudson's Bay CompanyThe Hudson's Bay Company , abbreviated HBC, or "The Bay" is the oldest commercial corporation in North America and one of the oldest in the world. A fur trading business for much of its existence, today Hudson's Bay Company owns and operates retail stores throughout Canada...
, Canada's largest retailer, and North America's oldest corporation (est. 1670), sold to U.S. investor Jerry Zucker in 2006. - ING Bank of Canada, the largest foreign bank in Canada, formed by the purchase of several small Canadian companies, controlled by the Dutch ING GroupING GroupThe ING Group is a global financial institution offering retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services. ING is the Dutch member of the Inter-Alpha Group of Banks, a cooperative consortium of 11 prominent European banks...
- Sears CanadaSears CanadaSears Canada Inc. is a retailer, headquartered in Toronto, Ontario, that operates in all provinces and territories across Canada with a network of 196 corporate stores, 195 dealer stores, 38 home improvement showrooms, 108 Sears Travel offices and a nationwide home maintenance, repair, and...
, one the largest retailers (created by buying old Simpson'sSimpson'sThe Robert Simpson Company, or Simpsons , was a Canadian department store chain, founded by Robert Simpson. The chain was eventually bought by the Hudson's Bay Company.- History :...
stores), controlled by the US Sears Holdings CorporationSears Holdings CorporationSears Holdings Corporation is a retail conglomerate formed in 2005 by the merger of Sears, Roebuck and Co., of Hoffman Estates, Illinois, with Kmart Holdings Corporation, of Troy, Michigan... - IBM CanadaIBM Canada Head Office BuildingIBM Canada's head offices are currently located in Markham, Ontario and have been there since the early 1980s. The current building IBM occupies is located at 3600 Steeles Avenue East and was completed in 1995...
, owned by IBMIBMInternational Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas... - Safeway Canada supermarkets, owned by Safeway Inc.Safeway Inc.Safeway Inc. , a Fortune 500 company, is North America's second largest supermarket chain after The Kroger Co., with, as of December 2010, 1,694 stores located throughout the western and central United States and western Canada. It also operates some stores in the Mid-Atlantic region of the Eastern...
- Cargill Ltd.Cargill Ltd.Cargill Limited is one of Canada's largest international agricultural companies. It employs approximately 6,000 across Canada with sales of $3.5 billion and $1.2 billion in assets...
owned by CargillCargillCargill, Incorporated is a privately held, multinational corporation based in Minnetonka, Minnesota. Founded in 1865, it is now the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank, as of 2011, number 13 on the Fortune 500,...
of Minnesota - McDonald's CanadaMcDonald's CanadaMcDonald's Restaurants of Canada, Ltd. is the Canadian branch of the popular fast-food restaurant chain McDonald's. One of Canada's largest fast-food restaurant chains, the franchise sells food items including hamburgers, chicken, french fries and soft drinks all across the country...
, owned by McDonald'sMcDonald'sMcDonald's Corporation is the world's largest chain of hamburger fast food restaurants, serving around 64 million customers daily in 119 countries. Headquartered in the United States, the company began in 1940 as a barbecue restaurant operated by the eponymous Richard and Maurice McDonald; in 1948... - Pratt & Whitney CanadaPratt & Whitney CanadaPratt & Whitney Canada is a Canadian aircraft engine manufacturer. PWC's headquarters are in Longueuil, Quebec, just outside Montreal. It is a division of the larger US-based Pratt & Whitney , itself a business unit of United Technologies...
owned by US United Technologies CorporationUnited Technologies CorporationUnited Technologies Corporation is an American multinational conglomerate headquartered in the United Technologies Building in Hartford, Connecticut... - Nissan Canada, owned by Nissan MotorsNissan Motors, usually shortened to Nissan , is a multinational automaker headquartered in Japan. It was a core member of the Nissan Group, but has become more independent after its restructuring under Carlos Ghosn ....
of Japan - Parmalat CanadaParmalat CanadaParmalat Canada is a Toronto, Ontario based company that sells dairy products. It is owned by Parmalat SpA of Italy.The Canadian unit was established in 1997 with the purchase of Beatrice Foods Canada and Ault Foods...
owned by ParmalatParmalatParmalat SpA is a multinational Italian dairy and food corporation. Having become the leading global company in the production of ultra high temperature milk, the company collapsed in 2003 with a €14 billion hole in its accounts in what remains Europe's biggest bankruptcy...
of Italy (owns the Black Diamond brand)
Former major Canadian Companies acquired by foreign owners
See also: :Category:Defunct companies of Canada- MacMillan Bloedel, B.C. forestry giant acquired by Weyerhaeuser for US$2.45 billion in 1999
- JDS Fitel announces $8.9-billion merger with U-S.-based Uniphase to form JDS UniphaseJDS UniphaseJDS Uniphase is a company that designs and manufactures products for optical communications networks, communications test and measurement equipment, lasers, optical solutions for authentication and decorative applications, and other custom optics. It is headquartered in Milpitas, California in the...
, in 1999. Company headquarters move from Ottawa to San Jose. - Eaton'sEaton'sThe T. Eaton Co. Limited was once Canada's largest department store retailer. It was founded in 1869 in Toronto by Timothy Eaton, an Irish immigrant. Eaton's grew to become a retail and social institution in Canada, with stores across the country, buying offices across the globe, and a catalogue...
, at one time Canada's largest retailer, with a history going back to 1869, purchased by SearsSears, Roebuck and CompanySears, officially named Sears, Roebuck and Co., is an American chain of department stores which was founded by Richard Warren Sears and Alvah Curtis Roebuck in the late 19th century...
in 1999, and closed in 2000 - SeagramSeagramThe Seagram Company Ltd. was a large corporation headquartered in Montreal, Quebec, Canada that was the largest distiller of alcoholic beverages in the world. Toward the end of its independent existence it also controlled various entertainment and other business ventures...
distillery and entertainment conglomerate, sold to Vivendi Universal and Pernod RicardPernod RicardPernod Ricard is a French company that produces distilled beverages. The company's eponymous products, Pernod Anise and Ricard Pastis, are both anise-flavoured liqueurs and are often referred to simply as Pernod or Ricard...
in 2000 - CorelCorelCorel Corporation from the abbreviation is a computer software company headquartered in Ottawa, Ontario, that specializes in graphics processing, similar to Adobe Systems...
, a software and programming company, taken over by Vector Capital in August 2003. - PetroKazakhstanPetroKazakhstanPetroKazakhstan is a Canadian oil company, based in Calgary, that has all of its business focused on Kazakhstan where it had some of oil and of natural gas reserves in the Turgai basin region. These are the second largest Kazakhstani proven reserves after ChevronTexaco's TengizChevroil....
a Calgary-based company exploring in Central Asia, was purchased by the Chinese state-owned China National Petroleum CorporationChina National Petroleum CorporationChina National Petroleum Corporation is a state-owned fuel-producing corporation and the largest integrated oil and gas company in the People's Republic of China...
in 2005 - CP Ships Ltd., acquired by the parent company of Hapag-LloydHapag-LloydHapag-Lloyd is a German transportation company comprising a cargo container shipping line, Hapag-Lloyd AG, which in turn owns other subsidiaries such as Hapag-Lloyd Ships and a cruise line, Hapag-Lloyd Cruises which is now integrated into TUI AG, Hanover...
Container Line, TUI AG, in an all-cash transaction worth $2.3 billion US in 2005 - MolsonMolsonMolson-Coors Canada Inc. is the Canadian division of the world's fifth-largest brewing company, the Molson Coors Brewing Company. It is the second oldest company in Canada after the Hudson's Bay Company. Molson's first brewery was located on the St...
Breweries, one of the oldest companies in Canada merged with CoorsCoors Brewing CompanyThe Coors Brewing Company is a regional division of the world's fifth-largest brewing company, the Canadian Molson Coors Brewing Company and is the third-largest brewer in the United States...
, in 2005. - Terasen Inc., previously BC Gas (a public utility company), sold to American-owned energy giant Kinder MorganKinder MorganKinder Morgan, Inc. is an American energy company. It is also, through a subsidiary, the general partner of and owner of many of the interests in Kinder Morgan Energy Partners, a publicly traded pipeline and terminal limited partnership....
for $6.9 billion. The deal was approved by the B.C. Utilities Commission despite 8,000 letters of protest, 2005. Terasen was subsequently sold to Newfoundland-based Fortis Inc.Fortis Inc.Fortis Inc. is a St. John's, Newfoundland and Labrador based international diversified electric utility holding company. It primarily operates in Canada and the Caribbean. In 2005, it earned a profit of $137.1 million Canadian from revenue of $1.44 billion....
in 2007. - Canadian Pacific hotelsCanadian Pacific hotelsCanadian Pacific Hotels was a division of Canadian Pacific Railway that operated a series of hotels across Canada. Most of these resort hotels were originally built and operated by the railway's Hotel Department, while a few were acquired from Canadian National Hotels...
the owner of many of Canada's most historic hotel propertiesCanada's grand railway hotelsCanada’s railway hotels are a series of grand hotels across the country, each a local and national landmark, and most of which are icons of Canadian history and architecture. Each hotel was originally built by the Canadian railway companies, or the railways acted as a catalyst for the hotel’s...
(operating under the name Fairmont Hotels and ResortsFairmont Hotels and ResortsFairmont Hotels & Resorts is a Canadian-based operator of luxury hotels and resorts. Currently, Fairmont operates properties in 18 countries including Canada, the United States, Mexico, Bermuda, Barbados, United Kingdom, Monaco, Germany, Switzerland, Egypt, Kenya, Tanzania, South Africa, the...
since 1999) is sold to Colony Capital, LLC of California and Kingdom Holding CompanyKingdom Holding CompanyKingdom Holding Company is a public holding company headquartered in Kingdom Centre in Riyadh, Saudi Arabia, and is the largest company in Saudi Arabia. It is controlled by Prince Alwaleed Bin Talal Bin Abdulaziz, and is headquartered in the city of Riyadh...
of Saudi Arabia for $3.9 billion, in January 2006. - DofascoDofascoDofasco is a steel company based in Hamilton, Ontario, Canada, which is also home to longtime Canadian rival Stelco. Dofasco is currently a standalone subsidiary of ArcelorMittal, the world's largest steel producer. Previously ordered by the U.S...
, Canada's largest steel maker acquired by Luxembourg-based ArcelorArcelorArcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004...
, January 2006. - Noranda (mining company) & Falconbridge Ltd.Falconbridge Ltd.Falconbridge Limited was a Toronto, Ontario-based natural resources company with operations in 18 countries, involved in the exploration, mining, processing, and marketing of metal and mineral products, including nickel, copper, cobalt, and platinum. It was listed on the TSX and NYSE , and had...
, purchased by Swiss mining company XstrataXstrataXstrata plc is a global mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It is a major producer of coal , copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome...
in 2006. Noranda had earlier been a target of state-owned China Metals Corp., but had backed out in 2005 amid public concern in Canada of Chinese state control of such a major company. - ATI TechnologiesATI TechnologiesATI Technologies Inc. was a semiconductor technology corporation based in Markham, Ontario, Canada, that specialized in the development of graphics processing units and chipsets. Founded in 1985 as Array Technologies Inc., the company was listed publicly in 1993 and was acquired by Advanced Micro...
, Canada's graphics chip maker, acquired by Advanced Micro DevicesAdvanced Micro DevicesAdvanced Micro Devices, Inc. or AMD is an American multinational semiconductor company based in Sunnyvale, California, that develops computer processors and related technologies for commercial and consumer markets...
, July 2006. - StelcoStelcoUS Steel Canada is a steel company based in Hamilton, Ontario, Canada.-History:Several existing smaller steelworks combined and were incorporated as the Steel Company of Canada in 1910. Charles S...
, Canada's last major independent steel producer, taken over by United States Steel in August 2007. - AlcanAlcanRio Tinto Alcan Inc. is a Canadian company based in Montreal. It was created on November 15, 2007 as the result of the merger between Rio Tinto PLC's Canadian subsidiary, Rio Tinto Canada Holding Inc., and Canadian company Alcan Inc. On the same date, Alcan Inc. was renamed Rio Tinto Alcan Inc..Rio...
purchased by Rio TintoRio Tinto GroupThe Rio Tinto Group is a diversified, British-Australian, multinational mining and resources group with headquarters in London and Melbourne. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto river, in Huelva, Spain from the...
in 2007. - Addax Petroleum, one of Canada's 9 fortune 2000 2009 oil and gas companies was acquired by sinopecSinopecChina Petroleum & Chemical Corporation Limited , or Sinopec Limited , is a majority owned subsidiary of state owned company Sinopec Group. Sinopec Limited is listed in Hong Kong and also trades in Shanghai and New York ....
of China for C$8.27 billion in June 2009 and approved by the Chinese government on August 12, 2009.
Other examples
- CreoCreoCreo, now part of Eastman Kodak Company, was a Burnaby, British Columbia Canada-based company involved in imaging and software technology for computer to plate and digital printing. The name derives from the Latin creo, "I create."...
, a world leader in digital printing software acquired by Eastman Kodak - Zenon Environmental Inc., a successful and innovative technology company spawned in Hamilton—sold to General Electric Co.
- Tim HortonsTim HortonsTim Hortons Inc. is a Canadian fast casual restaurant known for its coffee and doughnuts. It is also Canada's largest fast food service with over 3000 stores nationwide. It was founded in 1964 in Hamilton, Ontario, by Canadian hockey player Tim Horton and Jim Charade, after an initial venture in...
, sold to US Wendy's InternationalWendy's InternationalWendy's International, Inc. is the parent company of Wendy's Old Fashioned Hamburgers. It also owns 70 percent of Cafe Express. The Tim Hortons chain was spun off by Wendy's into a separate company in September 2006. The Baja Fresh chain was sold in October 2006. On September 15, 2008, the...
in 1995, later to be sold to the public an IPOInitial public offeringAn initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
in 2005. - CN Rail, the historic Canadian railway, now estimated to be 2/3 US owned. Many US shareholders gained shares in CN when they received CN shares in exchange for their original shares in US railways like Illinois Central. Another interesting fact is that when CN planned to merge with US railway BNSF in 1999, it was the American government that stopped the project.
- Gulf Canada Resources, which had formerly been part of US-based Gulf OilGulf OilGulf Oil was a major global oil company from the 1900s to the 1980s. The eighth-largest American manufacturing company in 1941 and the ninth-largest in 1979, Gulf Oil was one of the so-called Seven Sisters oil companies...
, but had since become independent, was purchased by US-based Conoco in a deal worth $6.7 billion in 2002. - Moore Wallace sold to U.S.-based R.R. Donnelley and Sons for $4.9 billion.
- MasoniteMasoniteMasonite is a type of hardboard invented by William H. Mason.-History:Masonite was invented in 1924 in Laurel, Mississippi, by William H. Mason. Mass production started in 1929. In the 1930s and 1940s Masonite was used for many applications including doors, roofing, walls, desktops, and canoes...
, bought out by Kohlberg Kravis Roberts & Co. - ID Biomedical, Canadian vaccine maker acquired by Drug giant GlaxoSmithKline for $1.8 billion.
- Vincor International Ltd, Canada's top wine maker and distributor, purchased for $1.4 billion by Constellation Brands Inc. of Fairport, NY, USA
- BauerNike BauerBauer Performance Sports Ltd. is one of the leading manufacturers of ice hockey equipment, fitness and recreational skates, and apparel. Bauer produces helmets, gloves, sticks, skates, shin guards, pants, shoulder pads, elbow pads, as well as goalie equipment...
, CooperCooper Canada Ltd.Cooper Canada Ltd. was a sporting goods and fine leather goods manufacturer based in Toronto, Canada. In its heyday, the 1960s through to the 1980s, the company was Canada's leading producer of leather baseball gloves and protective ice hockey equipment...
, and Hespeler, historic hockey equipment manufacturers bought by NikeNike, Inc.Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the United States. The company is headquartered near Beaverton, Oregon, which is part of the Portland metropolitan area...
in 1994 - CCM (The Hockey Company)CCM (The Hockey Company)CCM, formerly an initialism for Canada Cycle & Motor Co. Ltd., is a sporting goods brand. The brand is held by two separate entities both maintaining the CCM trademark, one manufacturing ice hockey equipment and the other, CCM manufacturing bicycles.-History:CCM was founded in 1899 after the...
, acquired by ReebokReebokReebok International Limited, a subsidiary of the German sportswear company Adidas since 2005, is a producer of Athletic shoes, apparel, and accessories. The name comes from the Afrikaans spelling of rhebok, a type of African antelope or gazelle...
in 2004.
Quick facts
(Source - Statistics Canada)2003 - Percentage of operating revenues of Canadian industries that were from foreign-controlled companies:
- Manufacturing - 51.8%,
- Oil and gas - 49.9%,
- Finance and insurance - 23.7%,
2004 - Foreign-controlled profits soared to a record $68 billion in 2004, up 21.7% from the previous year.
2004 - Foreign-controlled corporations accounted for 21.9% of assets held in Canada, and 30.0% of operating revenues yet comprised less than 1% (approx. 8,000) of the total 1.3 million corporations in Canada. Assets of foreign-controlled corporations rose 8.3% to $1.1 trillion in 2004, while those of Canadian-controlled corporations rose 8.9% to $3.9 trillion.
2004 - Foreign-controlled corporations operating revenues in Canada averaged $96 million, compared with less than $2 million for their Canadian-controlled counterparts.
Foreign Controlled Corporations:
Assets in Year 2000 - 833,970 Million
Assets in Year 2004 - 1,090,526 Million
August 2006 (Source - ROBTV)
Foreign purchases in 2006: 34 Canadian companies purchased by foreign interests worth 62 Billion dollars, nearly 4% of Canada's Market value
number of Canada based fortune 500 companies
2005 - 66
2009 - 52 (one of them from the merger of suncor and petro Canada) most of the other 13 are from foreign takeovers.
See also
- Canadian nationalismCanadian nationalismCanadian nationalism is a term which has been applied to ideologies of several different types which highlight and promote specifically Canadian interests over those of other countries, notably the United States...
- ContinentalismContinentalismContinentalism refers to the agreements or policies that favor the regionalization and/or cooperation between nations within a continent. The term is used more often in the European and North American contexts, but the concept has been applied to other continents including Australia, Africa and...
- Foreign Investment Review AgencyForeign Investment Review AgencyInvest In Canada is the Government of Canada organization that promotes and attracts foreign direct investment into Canada. As a bureau in the Department of Foreign Affairs and International Trade, Invest In Canada assists companies planning to invest in Canada or to expand their Canadian...
- Economic nationalismEconomic nationalismEconomic nationalism is a term used to describe policies which emphasize domestic control of the economy, labor and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital. It opposes globalization in many cases, or at...