DaimlerChrysler to invest $768M in Canadian operations

DaimlerChrysler has announced plans to invest $768 million to upgrade and modernize its Ontario operations.

Most of the money $610 million will be used over the next three years to prepare its assembly plant in Windsor, Ontario for new products and to build a new paint facility that will be ready in 2007.

The Chrysler Group is also investing in skills upgrading and training at its Brampton assembly plant and the Brampton satellite stamping plant.

The investment announcement came after the automaker hammered out support from the federal and Ontario governments.

The federal government is kicking in $46 million to support "environmental enhancements" at the Windsor paint shop, modernize the assembly plant and for research and development at the University of Windsor/Daimler Chrysler Automotive Research Development Centre.

"The investments are critical to ensuring the industry's competitiveness in a global market place," said a news release from the federal industry department.

• FROM Apr. 14, 2004: Ontario to invest $500 million in auto sector

The Ontario government is providing $76.8 million through the $500 million Ontario Automotive Investment Strategy. Under that program, the province supports auto sector investments worth more than $300 million or ones that create or retain more than 300 jobs.