GM investing almost 300 million for Ontario plant

Could there be a better time and outlook for Canadian Auto Workers? First, Ford announces last week that it is going to funnel 80 million dollars to its Essex plant, which basically ensures or creates up to 750 jobs there, and now General Motors announces that it will be pumping almost 300 million total for its Ontario plant which builds six-speed transmissions.

This announcement then plays into about 300 more jobs that can be secured or created there, and with 40 million of that money going to environmental research to be done in Canada, it also gives a springboard for future jobs and money to be in place. In return, the Canadian government, which loaned nearly 200 million to GM due to the minimum employment targets being missed in the Oshawa closure announcement, has stated that GM will not be required for early payment on the loans.

This is great news for CAW and for the Ontario plant, who obviously have the momentum to continue to grow and produce for GM and Ford. Do we see a trend perhaps forming? Methinks so!

( Add your comments )

Recent Entries:
· 2011 Ford Explorer
· Honda Announces Mileage Marathon Winner
· Cadillac Converj is GM's next electric car

[ READER COMMENTS ]

GM investing almost 300 million for Ontario plant

Add your comments...

We kindly ask that you keep your comments relevant to this blog entry. Abusive or inappropriate comments or comments that are specifically promotional in nature may be removed.