The Canadian Press - Published Friday, Jan. 4, 2013 6:41AM EST
Read more: http://www.ctvnews.ca/autos/pm-harper-announces-250m-subsidy-renewal-for-auto-industry-1.1100662#ixzz2H27KEUlwhttp://www.ctvnews.ca/autos/pm-harper-announces-250m-subsidy-renewal-for-auto-industry-1.1100662
TORONTO -- Ottawa is extending an auto sector fund the provides a $250-million pool of investment cash for car companies and their suppliers to draw from.
Prime Minister Stephen Harper is at a Ford plant in Oakville, Ont., to make the announcement.
Harper says the Automotive Innovation Fund has helped the auto sector become more innovative, agile and competitive.
Prime Minister Stephen Harper announces a $250M investment from a Ford plant in Oakville, Ont. on Friday, Jan. 4, 2013.
The Ford logo is seen on cars for sale at a Ford dealership, July 1, 2012. (AP / Seth Perlman)
The fund, established in 2008 federal budget, requires companies to invest their own money to access government cash.
The five-year renewal comes amid a controversy over government assistance to the auto industry, after GM of Canada said in late December that it will shift production of the Chevrolet Camaro from Oshawa, Ont., to a plant in Michigan in 2015.
The federal and Ontario governments contributed $10.6 billion to the bailout of General Motors during the 2009 recession, when the company restructured under court protection.
Read more: http://www.ctvnews.ca/autos/pm-harper-announces-250m-subsidy-renewal-for-auto-industry-1.1100662#ixzz2H27KEUlwhttp://www.ctvnews.ca/autos/pm-harper-announces-250m-subsidy-renewal-for-auto-industry-1.1100662
TORONTO -- Ottawa is extending an auto sector fund the provides a $250-million pool of investment cash for car companies and their suppliers to draw from.
Prime Minister Stephen Harper is at a Ford plant in Oakville, Ont., to make the announcement.
Harper says the Automotive Innovation Fund has helped the auto sector become more innovative, agile and competitive.
The Ford logo is seen on cars for sale at a Ford dealership, July 1, 2012. (AP / Seth Perlman)
The fund, established in 2008 federal budget, requires companies to invest their own money to access government cash.
The five-year renewal comes amid a controversy over government assistance to the auto industry, after GM of Canada said in late December that it will shift production of the Chevrolet Camaro from Oshawa, Ont., to a plant in Michigan in 2015.
The federal and Ontario governments contributed $10.6 billion to the bailout of General Motors during the 2009 recession, when the company restructured under court protection.
from sixth rank position in 2009 to 21st in 2010."... initial quality of Ford models has improved steadily for the past nine years. In addition, as a corporation, Ford Motor Company (including Volvo) has 12 models that rank within the top three in their respective segments in 2010-more than any other corporation.
PTC InSight modeling software will help Ford identify opportunities to reduce carbon emissions within its global supply chain
The Auto Industry Can Double Profitability by Employing ‘Smart Growth’ Techniques, According to AlixPartners Study
The North American automotive supply industry, which just a year ago was flat on its back in crisis, has already bounced back to early-2000s profitability levels, when production levels were 30% higher.
Mulally says, "we absolutely are going to provide a premium experience". (more...)
Advance Auto Parts Adds PrimeRevenue's Supply Chain Finance Platform
Supply Chain Finance is an important component of Advance Auto Parts action plan to reduce working capital, increase cash flow and improve supply chain efficiency. (more...)
