The Business Review Canada Weekly Roundup

By Bizclik Editor
Ford Investing $700 Million In Oakville, Ont Plant

The investment will save 2,800 jobs

On Thursday Ford made an announcement with its plans to invest $700 million into an assembly plant near Toronto to add models and meet the increased demand for its vehicles around the world.

The investment will save the 2,800 jobs at the Oakville, Ontario plant and expand its manufacturing capability.

The 5.5 million square foot plant manufactures the Ford Edge, Flex crossover SUV’s, Lincoln MKX, and Lincoln MKT.

This investment is great news for Canadian auto workers, as they prepared for the worst last year because they were paid higher wages than auto workers in the U.S. Auto executives were dubbing Canada as the most expensive place in the world to build automobiles. A year ago, workers agreed to a new contract that cut U.S. automaker’s cost in the country.

In a statement, Ford said that it plans to bring several new models to the plant to meet rising sales in North America and throughout the world. The factory plans to become more flexible, with the ability to produce more of the models that are in higher demand.

"If consumers suddenly shift their buying habits, we can seamlessly change our production mix without having to idle a plant," Joe Hinrichs, the company's U.S. President, said in the statement.

With a portion of the investment, the company plans to increase fuel efficiency research and development efforts in Ontario.

Ford says changes to the plant are already underway, and expected to be done by the fall of 2014.

Ford Investing $700 Million In Oakville, Ont Plant

BlackBerry Launches Z30
With an improved battery life and beautiful 5" all touch display, the BlackBerry Z30 promises to deliver

Today BlackBerry launched its new Blackberry 10 smartphone, the BlackBerry Z30, BlackBerry’s biggest, fastest and most advanced smartphone.

The newest smartphone from BlackBerry features 10 OS version 10.2, a beautiful 5” all touch display and the largest battery on any BlackBerry smartphone. The phone is designed to keep you hyper connected, productive and in control.

Extreme Obstacle Racing Has Cemented Itself in the Fitness World
From Tough Mudder to the Spartan Race, Trevor Gould explains what to expect during an obstacle course race

 

Share

Featured Articles

Microsoft, McDonald’s latest firms to run civil rights audit

Microsoft and McDonald’s join Amazon, Citi, JPMorgan and others in conducting civil rights audits, as investor pressure to achieve racial equity mounts

Deep dive: Investment in carbon capture rises as CO2 spikes

Investment in carbon removal solutions and startups is heating up as fast as the planet, with Temasek and CEMEX Ventures the latest VCs to launch funds

Dialight envisions a safe industrial world with LED lights

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, cyber, 5G, cloud speakers at TECH LIVE LONDON

Technology & AI

Eight big announcements made at Davos 2022, from ESG to tech

Sustainability

Hear Vodafone Business cyber chief Kawalec at Cyber LIVE

Leadership & Strategy