General Motors Canada buys out Suzuki stake in CAMI
05 Dec 2009
General Motors of Canada Limited will acquire 100 per cent ownership of CAMI Automotive Incorporated (CAMI) by a purchasing the shares currently owned by long-time partner Suzuki Motor Corporation, GM said in a release.
CAMI, which has been credited with the highly successful North American launch of GM's all-new Chevrolet Equinox and GMC Terrain, is expanding capacity to meet the strong customer demand for these popular and fuel-efficient compact crossovers, the release noted.
"GM Canada recognises that the culture and values of the CAMI workforce have played a key role in producing world class vehicles," said Arturo Elias, president of GM Canada.
"Bringing CAMI completely into the GM family is a strong vote of confidence in the people there and builds on the recent positive news at the plant since the highly successful launch of the Chevrolet Equinox and GMC Terrain," he added.
Sales for these vehicles increased over 17 per cent in November alone and GM said through scheduled overtime and the recent addition of a third shift and commencement of a C$90 million body shop expansion would help increase capacity by an additional 40,000 vehicles annually.
