Ford Motor invests 700million in Oakville plant securing 2800 jobs

OAKVILLE, Ont. — Ford Motor’s Canadian subsidiary is investing $700 million at its Oakville assembly plant west of Toronto, a move that it says will support thousands of jobs and increase the automaker’s spending on Canadian-made parts.It says several new models will be brought to the plant to meet demand in North America and elsewhere.Industry Minister James Moore with be the plant this morning for a press conference and is expected to announce a Federal contribution.The Oakville plant currently makes the Ford Edge, Ford Flex, Lincoln MKX and Lincoln MKT.The automaker’s president for the Americas, Joe Hinrichs, says the investment will mean Ford’s spending on Canadian-made auto parts will increase by about $200 million to a total of nearly $4 billion annually.Ford says the investment will secure more than 2,800 jobs.“This investment is helping us find much needed capacity for global products and securing jobs, and it is positioning Oakville as one of the most competitive and important facilities in the Ford system,” Hinrichs said in a statement.Reuters reported on Wednesday that the next generation of the Edge and MKX crossover utility vehicles would be assembled at the plant.U.S. car sales were above expectations in August as consumers, after years of putting off purchases of new cars, took advantage of still-low interest rates and snapped up a wide range of vehicles from pickup trucks to luxury sedans.Ford’s car sales in Canada were higher than those of Chrysler Group and General Motors Co in August. read more