Regions

The Ford Motor Company announced it would spend CAD700 million or USD685 million to increase its additional models at one of its vehicle assembly plants located in Ontario. 

According to Ford President of the Americas Joe Hinrichs, through a statement, "The investment is helping us find much needed capacity for global products." The automaker, whose corporate headquarters is in Dearborn, MI, did not provide specifics as to what models would be produced at their Oakville plant located near Toronto, Canada.

Last year, Ford had entered into an agreement to create about 600 jobs in Canada. The increase would include a partial third shift as part of the provisions agreed on with the Canadian Auto Workers union at Oakville. Currently, the factory produces the Ford Edge and Lincoln MKT crossover, as well as the Ford Flex wagon according to the company's website.

The investment would secure nearly 3,000 jobs at Oakville, according to Ford. The expansion is expected to be completed by the second half of 2014. Ford, back in 2011, had closed its St. Thomas, Ontario factory which produced the Ford Crown Victoria and Lincoln Town Car sedans.