(Corrects paragraph 3 to say the investment secures, not
creates, 2,800 jobs; Also makes clear existing plant will be
Sept 19 Ford Motor Co said it would invest
C$700 million ($678 million) in its Oakville assembly plant in
Canada to boost its North American manufacturing capacity as
demand for cars surges to pre-recession levels.
Ford said this investment would increase its annual spending
on Canada-made auto parts by about C$200 million to nearly C$4
The company said it expected to secure 2,800 jobs with the
expansion, which should be complete by the fall of 2014.
Reuters reported on Wednesday that the next generation of
the Edge and MKX crossover utility vehicles would be assembled
at the plant.
The facility currently manufactures models such as Ford
Edge, Ford Flex, Lincoln MKX and Lincoln MKT.
U.S. car sales were above expectations in August as
consumers, after years of putting off purchases of new cars,
took advantage of still-low interest rates and snapped up a wide
range of vehicles from pickup trucks to luxury sedans.
Ford's car sales in Canada were higher than those of
Chrysler Group and General Motors Co in
($1 = 1.03 Canadian dollars)
(Reporting by Krithika Krishnamurthy in Bangalore; Editing by