Canadian government invests in car parts firm

Posted on 10 Feb 2018 and read 409 times
Canadian government invests in car parts firmThe government of Canada said last month that it plans to invest C$49 million ($39.41 million) to support an expansion by the automotive-parts manufacturer Linamar Corp (www.linamar.com).

Navdeep Bains — the Minister of Innovation, Science and Economic Development — made the announcement before heading to the North American International Auto Show in Detroit to discuss Canada’s role in North America’s automotive industry.

According to a federal government statement, the investment in Linamar will help to create 1,500 new Canadian jobs, maintain more than 8,000 jobs involved in a variety of manufacturing processes and help to produce more-efficient environment-friendly vehicles.

The Canadian government has been “facilitating innovation” in the automotive industry and is encouraging expenditure in the “technology, talent and infrastructure needed to shape the future of mobility”.

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