General Motors of Canada Acquires Full Ownership of CAMI Automotive


    


    
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<p>OSHAWA, Ontario, <chron>Dec. 4</chron> /CNW/ -- General Motors of <location>Canada</location> Limited today announced that it will acquire 100 percent ownership of CAMI Automotive Incorporated (CAMI) through a purchase transaction to buy shares currently owned by long-time partner Suzuki Motor Corporation.</p>
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<p>CAMI recently led GM's highly successful North American launch of the all-new Chevrolet Equinox and GMC Terrain and is rapidly expanding capacity to meet the strong customer demand for these popular and fuel-efficient compact crossovers.</p>
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<p>"GM <location>Canada</location> recognizes that the culture and values of the CAMI workforce have played a key role in producing world class vehicles," said <person>Arturo Elias</person>, president of GM <location>Canada</location>.  "Bringing CAMI completely into the GM family is a strong vote of confidence in the people there and builds on the recent positive news at the plant since the highly successful launch of the Chevrolet Equinox and GMC Terrain."</p>
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<p>In November alone, sales for these vehicles increased over 17 percent. To keep up with demand, GM is rapidly expanding capacity at CAMI through scheduled overtime, the recent addition of a third shift and commencement of a C$90M body shop expansion to increase capacity by an additional 40,000 vehicles annually - great news for GM, the employees at CAMI and the community in Ingersoll, Ontario.</p>
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For further information: For further information: In Canada: Tony LaRocca, Communications Director, General Motors of Canada Limited, +1-905-435-4079, tony.larocca@gm.com, or in United States: Tom Wilkinson, Manager, News Relations, General Motors, +1-313-378-6233, tom.wilkinson@gm.com

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