"I have personally worked very hard to find another alternative for this facility — and our partners in the CAW and governments have indicated their willingness to work constructively with us if a product could be identified — but the automotive industry has changed dramatically and we could not identify an economically viable alternative for this facility," said Kempston Darkes. "We will work with the CAW and the local, Quebec and Federal Governments to develop a transition plan for the facility."
In connection with the closure of the St. Thérèse plant, General Motors Corp. will incur a one-time special charge of U.S. $300 million pretax (US$195 after tax), or about U.S.$0.35 per share. The charge will be taken in the third quarter 2001.