Ontario Government welcomes Ford announcement to increase parts sourcing in Canada
TORONTO, Jan. 18 /CNW/ - Ontario Minister of Economic Development and Trade Bob Runciman today welcomed an announcement by the Ford Motor Company of Canada to increase its parts purchases from Canadian suppliers to $7 billion annually, up from $4.5 billion.
"Given that the majority of parts suppliers are located in Ontario, this is significant for our province, and particularly the auto parts industry," said Runciman. "Ford has had to make some difficult business decisions in recent months, and we are glad part of that process included major investments here that should result in more jobs for Ontarians."
Private sector sources forecast that the increased orders could potentially create 4,000 new jobs in the auto parts industry.
Ford's news follows yesterday's announcement by General Motors of Canada Ltd. to proceed with $1 billion in new production projects, the vast majority expected in its Ontario plants.
"Companies recognize that Ontario is an attractive location to make investments," Runciman added. "Our province offers competitive advantages and we will continue to work aggressively to ensure all sectors of our economy prosper."
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For further information: Jamie Wallace, Minister's Office, (416) 325-8779