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Latest News from the CVMA
Federal Announcement Supports Automotive Industry Vision.
Toronto, ON – 2004-06-14Mark Nantais, President of the Canadian Vehicle Manufacturers' Association representing Canada's largest manufacturers of light and heavy duty vehicles praised the five-year, $500 million commitment to the automotive manufacturing industry as announced today by the Hon. Joe Volpe, Minister of Human Resources and Skills Development.
"The federal government acknowledged the economic importance of the automotive industry earlier this year in the Budget and the government has now taken a very important step towards retaining and attracting automotive investment under the Skills and Innovation Project, through the commitment of financial resources to the automotive sector," said Mr. Nantais.
"This announcement is fully consistent with the priorities identified under the Canadian Automotive Partnership Council (CAPC) and complements the funding commitments made by the Province of Ontario earlier this year. The fact that the automotive industry is ultimately responsible for one job in seven in the country has not been lost on either government. The availability and accessibility to programs that support investment, human resources development and research and development in the automotive sector are consistent with the long term vision for our industry," added Nantais.
Countries around the world are vigorously pursuing automotive manufacturing investment with its huge spin-off benefits, as a cornerstone upon which their economies can be built. It is a competitive global market and Canada needs to ensure it retains the automotive investment it has, and creates the competitive advantage necessary to attract new investment in the future.
The 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 $22 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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