ST. CATHARINES, Ontario, June 1, 2010 — Today, following the news of an investment of over $245 million by General Motors of Canada Limited (GMCL) in its powertrain facility in St. Catharines, the Honourable Tony Clement, Minister of Industry, issued the following statement:
“The Government of Canada is encouraged by the continuing evidence that General Motors is on the road to recovery and by its commitment to doing business in Canada. This latest investment means that more than 400 jobs will be maintained at GMCL’s St. Catharines facility to produce front-wheel-drive transmissions.
“This news, combined with other recent positive announcements in the auto sector, shows that 12 months ago, when the Government of Canada announced financial assistance for the company, we made the right decision. Since that time, General Motors has repaid its loans in full, and the Canadian auto industry has turned a corner and is continuing to show clear signs of recovery. Increased sales are leading to profitability, which is translating into added production, which, in turn, is putting people back to work.”
Last year, the governments of Canada and Ontario provided funding to General Motors during the economic downturn. This funding was intended to help advance the company’s efforts to restructure, while maintaining Canada’s share of General Motors’ North American production and ensuring strong investment in research and development.
For further information (media only), please contact:
Lynn Meahan
Press Secretary
Office of the Honourable Tony Clement
Minister of Industry
613-995-9001
Media Relations
Industry Canada
613-943-2502
