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Latest News from the CVMA
Auto Industry Applauds Ontario's Commitment.
Toronto, ON – 2004-04-14The president of the association representing Canada's largest manufacturers of light and heavy duty vehicles praised the $500 million announcement today by the Premier to secure both new investment and re-investment in automotive industry – the economic engine of the province.
"Premier McGuinty and his government have long recognized the strategic importance of the automotive industry to the economies of both the province and the nation," said Mark Nantais, President of the Canadian Vehicle Manufacturers' Association. "Today's announcement is extremely good news not only because of the commitment to the industry, but also because it reflects the consensus priorities identified under the Canadian Automotive Partnership Council (CAPC) process. It will go a long way towards ensuring the long term strength and competitiveness of the automotive industry in Ontario."
"Our members and CAPC have been seeking the expansion of, and improved accessibility to, programs which will assist in attracting automotive investment to Ontario and this announcement goes a long way towards that goal. That, combined with the focus on innovation and research and development as part of the announcement, augurs well for the future of the automotive industry in Ontario," added Nantais
Canadian Vehicle Manufacturers' Association (CVMA) is the national association for Canada's leading manufacturers of light and heavy duty vehicles. Our membership includes DaimlerChrysler Canada Inc., Ford Motor Company of Canada, Limited, General Motors of Canada Limited, and International Truck & Engine Corporation Canada. Our member companies are the leaders in an industry that employs over 330,000 Ontarians and accounts for nearly 20% of Ontario's manufacturing GDP. In 2003, these companies produced roughly 1.85 million of the over 2.5 million (73%) light duty vehicles built in Ontario and sold 925,639 of the 1,585,589 (58%) of the light duty vehicles sold in Canada. Over the past decade, our members have invested over $20 billion in new technology and facilities into Ontario.
For further information please contact:
Mark Nantais
President
Canadian Vehicle Manufacturers' Association
416.364.9333
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