New Alliances in Quebec to Enhance Auto Supplier Base
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| President of General Motors Canada, Michael Grimaldi is the man of the hour in Quebec's auto industry, announcing a $400 million spend in the supplier sector. (Photo: General Motors Canada) |
Good news has come to the Province of Quebec. On February 28th, 2003, General Motors of Canada, the Société Générale de Financement du Quebec (SGF), and the Quebec government have signed a plan outlining new developments of the automotive supplier base in the francophone province.
Over the next five years GM Canada will be allocating $400 million to existing and future suppliers plus a supplementary $10 million will be allotted to research and development. The universities of the province, along with other research and development programs, will be incorporated into the deal and funding package. President of General Motors Canada, Michael Grimaldi, remarked that, "the agreement we signed with the Government of Quebec establishes a plan to expand the capability of existing Quebec based suppliers, develop the potential of new suppliers and attract new companies for Quebec."
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| Mrs. Pauline Marois, Deputy Premier of Quebec. (Photo: Assemblee Nationale Quebec) |
General Motors will decide which companies have the potential to supply them large automotive volumes, quality, delivery and technology at competitive costs. When potential strategic partners are chosen GM will assess whether or not the company they are investing in needs government assistance, and if so, will work hand in hand to create a specific plan for the company to succeed.
"This agreement highlights Quebec's competitive edge in lightweight materials by accelerating the development of new Quebec suppliers in the automotive sector and thereby increasing the opportunities for other suppliers to set up business across the province," commented Mrs. Pauline Marois, Deputy Premier of Quebec.