PETERBOROUGH, ON, Feb. 19, 2013 /CNW/ - GE and the Canadian Auto Workers
(CAW) reached a collective agreement on Sunday, February 17th, 2013. The agreement includes a significant investment in GE's
Peterborough facility to create a North American Centre of Excellence
(CoE) for large slow speed motors.
"GE is committed to building our Peterborough business and continuing
our long history as an employer of choice in the Peterborough area,"
said Elyse Allan, President and CEO, GE Canada. "We believe this
ratified agreement sets the stage for building a competitive operation
and a world class Centre of Excellence."
Through a multi-year, multi-phased restructuring program GE will invest
in process and capital equipment upgrades to transform the motors
facility into a globally competitive operation. This will position GE
Peterborough to compete for incremental business in multiple
The initial investment will include approximately $21 million for the
first phase of restructuring with an additional $5 million investment
to support the wind and solar businesses for a total investment of
approximately $26 million. GE anticipates that this investment will
enable the company to generate Industrial Regional Benefits in support
of pending commitments.
GE will continue to aggressively pursue significant marine opportunities
with the Canadian Government for the National Shipbuilding Procurement
Strategy. If successful, Peterborough will be GE's production facility
of choice to meet demand for propulsion motors, generators and other
components for these ships, potentially resulting in additional jobs at
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building,
powering, moving and curing the Not just imagining. Doing. GE works.
For more information, visit the company's website at www.ge.com.
In Canada, GE has operations across the country, including major
manufacturing, sales and service locations with 7,000 employees. Follow
GE Canada on Twitter at: http://twitter.com/GE_Canada and YouTube at http://www.youtube.com/user/GECanada.
SOURCE: General Electric Canada Inc.
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