Martinrea bracing for challenge of board by former vice-chairman

Canadian auto parts maker Martinrea International Inc. faces a possible court challenge from former vice-chairman Natale Rea, who was let go in June 2012.

A press release issued Thursday on behalf of him and his company Rea Holdings Inc., says Rea is considering a formal shareholder request for a special meeting to remove the current directors and elect a new board.

Martinrea says it hasn’t received Rea’s statement of claim, but will respond in due course.