Federal government, Ontario invest $100M to support Linamar auto parts maker
OTTAWA — The federal and Ontario governments unveiled up to $100 million worth of combined grants Monday to help Canadian automotive parts maker Linamar Corp. develop advanced manufacturing technologies.
Beyond technology and jobs, federal Economic Development Minister Navdeep Bains hoped the Linamar (TSX:LNR) announcement could also serve as way for him to highlight just how integrated the automotive sector is between Canada and the United States.
The announcement landed at a time of significant uncertainty surrounding the future of the North American Free Trade Agreement. Bains planned to refer to the investment later Monday to help him make a case for the importance of the trade pact during a visit to the North American International Auto Show in Detroit.
“I think investments in Canada are not only good for Canada, but also good for the U.S. as well,” Bains said in a phone interview after the Linamar announcement in Guelph, Ont.