Martinrea International Inc.: Comments on Receivables Collection in the Context of GM and Chrysler Restructurings

TORONTO, ONTARIO, Jun 10 (MARKET WIRE) --
Martinrea International Inc. (TSX: MRE), a leader in the production of
quality metal parts, assemblies and modules and fluid management systems
focused primarily on the automotive sector, today outlined its situation
with respect to the payment of outstanding GM and Chrysler receivables
during the GM and Chrysler restructurings.

Martinrea's Executive Chairman, Rob Wildeboer, stated: "To put it
briefly, we are being paid all outstanding receivables, on time and on
normal commercial terms, from all GM and Chrysler entities, in Canada,
the United States, and elsewhere. It is a term of the bankruptcy filing
in the United States for each of our customers that critical suppliers
get paid. We have signed agreements with each of Chrysler and GM ensuring
payment of amounts owed. Both customers have indicated that we are
critical vendors, or critical suppliers, going forward. In Canada,
neither GM Canada nor Chrysler Canada have filed for insolvency
protection, and all receivables are being paid in the normal course."

In the run up to the bankruptcy filings, many automotive parts suppliers,
including Martinrea, looked to secure payment of accounts receivable by
various means, including the purchase of receivables insurance provided
in Canada by the Export Development Corporation and securing payment
through participation in the Auto Supplier Support Program in the United
States.

"We believe that the bankruptcy filings of each of GM and Chrysler have
been very well and carefully structured to protect the supply base, to
the benefit of all of the car companies who rely on suppliers, and we
commend the actions of governments in both countries," Mr. Wildeboer
continued. "Our governments in Canada have done a particularly good job
in ensuring a strong future for the Canadian auto sector. We also support
our governments' actions in supporting the Canadian and Ontario auto
industry. Without participating alongside the United States government in
providing liquidity solutions to GM and Chrysler, a good part, at least,
of one of our core industries would have disappeared forever, along with
many direct and indirect jobs provided by the industry, and the tax
revenues and all the other benefits of having a leading-edge advanced
manufacturing industry. Every industrialized country in the world is
striving to maintain or build an automotive industry, Canada has long
punched above its weight in this regard, we have a very strong automotive
cluster here, and I believe we will continue to do so in the future."

Fred Jaekel, Martinrea's CEO stated: "The first half of 2009 has seen
historically low production volumes as well as unprecedented bankruptcy
filings and shutdowns. At the same time, this also provides opportunities
for critical suppliers to assist all of our customers. We have worked
very closely with all of them. We have seen unprecedented opportunities
for takeover business as the supply base continues to consolidate, and we
have taken advantage of this and will continue to do so where it is
prudent and profitable. Production volumes are picking up, and we see
significantly more production in the third quarter than in each of the
first and second quarters of this year, especially from the Detroit 3. I
believe that we are moving past the bottom of this cycle, and production
volumes will continue to rise. The low volumes experienced so far this
year are not sustainable, as they are well below the replacement rate for
North America."

The common shares of Martinrea trade on The Toronto Stock Exchange under
the symbol "MRE".

This press release contains forward-looking statements within the meaning
of applicable Canadian securities laws including statements relating to:
the Company's role as a critical supplier; the automotive industry
outlook and future vehicle production; payment of receivables by GM and
Chrysler; sales, future restructuring efforts; acquisition opportunities;
new business awards; automotive industry consolidation; and the Company's
pursuit of its business strategies. The words "expect", "anticipate",
"estimate", "may", "will", "should", "intend", "believe", "plan" and
similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on estimates and assumptions made by
the Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as well as
other factors that the Company believes are appropriate in the
circumstances. Many factors could cause the Company's actual results,
performance or achievements to differ materially from those expressed or
implied by the forward-looking statements, including, without limitation,
those risks and uncertainties as set out under the heading "Risks and
Uncertainties" in the Company's Management Discussion and Analysis dated
May 7, 2009 and those risks and uncertainties as set forth in the
Company's Annual Information Form and other public filings which can be
found at www.sedar.com. Actual results may differ materially from those
currently anticipated. Except as required by law, the Company has no
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. These factors should be considered carefully, and readers
should not place undue reliance on the Company's forward-looking
statements.

Contacts:
Martinrea International Inc.
Nick Orlando
President and Chief Financial Officer
(416) 749-0314
(905) 264-2937 (FAX)

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