Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

GM extends Oshawa assembly line operations until 2017

Published 2015-08-19, 01:57 p/m
© Reuters. GM extends Oshawa assembly line operations until 2017
GM
-

TORONTO, Aug 19 (Reuters) - General Motors Co (NYSE:GM) GM.N will
keep an Oshawa, Ontario assembly line operating until 2017, the
company's Canadian unit said on Wednesday, extending the life of
a line that has been repeatedly scheduled for closure over the
last decade.
GM said it would invest C$12 million to increase Chevrolet
Equinox production and make related changes at the separate CAMI
Assembly, extending production on its consolidated line to 2017.
GM first announced plans to close the consolidated line, one
of its two remaining Oshawa assembly lines, in 2005. It was
scheduled to cease production in 2008, but GM has repeatedly
moved that date. In 2012, it was set to close in 2013. Most
recently, it was expected to shut down in 2016.
The consolidated line also produces the previous generation
Chevrolet Impala. The flex line, GM's other Oshawa line,
produces the current model Impala, Buick Regal, Chevrolet Camaro
and Cadillac XTS.
"This new investment represents a very effective way for us
to meet strong demand for the Chevrolet Equinox and it's
positive news for our community," said Steve Carlisle, president
of GM Canada, in a release.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.