Toyota to invest in Ontario plants
TORONTO: Japanese automaker Toyota Motor Corp, in conjunction with Canada's federal government and the provincial government in Ontario, is set to unveil a plan to invest about C$500 million in two Ontario assembly plants, according to a report in the Globe and Mail on Tuesday.
The governments will each invest about C$60 million at an announcement to be made at the company's plant in Cambridge, Ontario, said the report, citing sources familiar with the matter.
The investments could lead to increased production in Cambridge and at a nearby plant in Woodstock that puts together the RAV4 crossover, the sources said.
The two plants now employ about 6,500 people, according to the report.
The Cambridge facility is the only Toyota plant outside Japan that assembles vehicles for the company's luxury Lexus franchise.
A spokesman for the company was not immediately available for comment.
Copyright Reuters, 2011
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