Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  General Motors Company    GM

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

General Motors Company : General Motors extends production at Oshawa plant line to 2016

10/17/2013 | 12:35pm US/Eastern

General Motors is extending operations at one of its production lines in Oshawa, Ontario that was due to shut down next summer, the company said on Thursday.

The Detroit automaker said the consolidated assembly line will continue to operate until 2016 to meet market demand for the Chevrolet Impala Limited and the Chevrolet Equinox.

The news is positive for the roughly 650 to 700 workers who work on the line, said Ron Svajlenko, the president of local union Unifor Local 222.

"The extension into 2016 gives our workforce some stability and again, we were going through a potential of layoffs and right now that's not the case, so that's very good news for us," said Svajlenko.

"As long as we continue to build vehicles out of that facility, we have the opportunity to remain in the hunt for any kind of long-term additional products that General Motors may need to build."

The Oshawa assembly plant, which employs some 3,500 workers in total, runs two assembly lines. The flexible manufacturing line is currently building the 2014 Chevrolet Impala, Chevrolet Camaro, Buick Regal and Cadillac XTS.

Last month, the Canadian and Ontario governments sold a quarter of their common shares in GM. The governments became shareholders in 2009 when they contributed more than C$10 billion to a bailout to keep the car maker afloat.

In return for their investment, the governments required GM to maintain its share of production in Canada for several years.

(Reporting by Solarina Ho; Editing by Krista Hughes)

React to this article
Latest news on GENERAL MOTORS COMPANY
07/31 CAR HACKING RISK MAY BE BROADER THAN : U.S. regulator
07/31 GENERAL MOTORS : Rebuilt 4L60E Transmissions Now Listed for Sale at U.S. Recondi..
07/31DJGENERAL MOTORS : GM Grants Executive Stock Options
07/31DJGENERAL MOTORS : GM Grants First Executive Stock Options Since Emerging From Ban..
07/31 ISUZU MOTORS : GM, Auto Express Sign Deal for After Sales Service
07/31 Western companies look hard at China as growth slows
07/31 GENERAL MOTORS : GM Volunteers Set Record for Life Remodeled Project; Company su..
07/31 GENERAL MOTORS : GM Volunteers Set Record for Life Remodeled Project
07/30 GENERAL MOTORS : Rebuilt 4L60E Transmissions Now Listed for Sale at U.S. Recondi..
07/30 FIAT CHRYSLER AUTOMOBILES NV : is closing the gap with Ford, GM on profits in No..
Advertisement
Chart
Duration : Period :
General Motors Company Technical Analysis Chart | GM | US37045V1008 | 4-Traders
Income Statement Evolution
More Financials