News
Ford Motor invests $700 million at its plant in Oakville, Ont.
September 19, 2013 by The Canadian Press
Ford says its $700-million investment in the Oakville plant west of Toronto is a “win for everyone” and a sign of the company’s dedication to Canadian manufacturing.
The automaker’s president for the Americas, Joe Hinrichs, says the investment will help the company find much-needed capacity as demand for cars bounces back to pre-recession levels.
It will also help secure 2,800 jobs at the plant, and position it as one of the more competitive and flexible ones in Ford’s arsenal.
The former Canadian Auto Workers union, now called Unifor, called the investment a “giant boost” for the industry, and praised the involvement of both the federal and provincial governments.
Ontario is providing a grant of up to $70.9 million toward the total investment, while the federal government is committing up to $71.6 million.
The Oakville plant currently makes the Ford Edge, Ford Flex, Lincoln MKX and Lincoln MKT.
Ford says several new models will be brought to the plant to meet demand in North America and elsewhere.
The investment will mean Ford’s spending on Canadian-made auto parts will increase by about $200 million to a total of nearly $4 billion annually.
