Ford to invest $685M to add models at Ontario factory

Ford Motor Co. said it will spend C$700 million ($685 million) to add production of additional models at an Ontario vehicle-assembly plant.

?This investment is helping us find much needed capacity for global products,? Joe Hinrichs, Ford?s president of the Americas, said in a statement. The Dearborn-based automaker didn?t specify what models will be added at the plant in Oakville, near Toronto.

Ford last year agreed to create about 600 jobs in Canada, including a partial third shift at Oakville, in negotiations with the Canadian Auto Workers union. The factory currently produces models including the Ford Edge and Lincoln MKT crossover vehicles and Ford Flex wagon, according to the company?s website.

The investment will secure 2,800 jobs at Oakville, Ford said. The expansion project will be completed in the second half of 2014. The company in 2011 closed its St. Thomas, Ontario, factory that made the now-discontinued Ford Crown Victoria and Lincoln Town Car sedans.

Ford?s share of the U.S. market rose to 16 percent this year through August from 15.6 percent a year earlier, leading gains among major automakers.

Source: http://www.findata.co.nz/News/24329048/Ford_to_invest_685M_to_add_models_at_Ontario_factory.htm

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