DAILY NEWS Feb 20, 2013 1:56 PM - 0 comments

GE to invest $26 million in Ontario motor facility

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2013-02-20

GE has announced plans to invest $26 million in its Peterborough, Ont. motors facility to create a North American Centre of Excellence for large, slow-speed motors.

The investment comes on the heels of General Electric Canada and the Canadian Auto Workers ratifying a three-year collective agreement for some 750 employees at a handful of Ontario facilities.

“GE is committed to building our Peterborough business and continuing our long history as an employer of choice in the Peterborough area,” said Elyse Allan, president and CEO, GE Canada. “We believe this ratified agreement sets the stage for building a competitive operation and a world class Centre of Excellence.”

Through a multi-year, multi-phased restructuring program, GE will invest in process and capital equipment upgrades to transform the motors facility into whjat it calls a globally competitive operation designed to position GE Peterborough to compete for incremental business in multiple industries.

The initial investment will include $21 million for the first phase of restructuring with an additional $5 million to support the wind and solar businesses for a total investment of about $26 million.

GE anticipates that this investment will enable the company to generate Industrial Regional Benefits in support of pending commitments. 

If successful, the Peterborough production facility will make the propulsion motors, generators and other components for these ships.



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