General Motors of Canada Limited

General Motors of Canada Limited

December 20, 2008 13:01 ET

GM To Earn Canada's Trust

OSHAWA, ONTARIO--(Marketwire - Dec. 20, 2008) - GM Canada has welcomed today's announcement of conditional repayable loan support by the Canadian and Ontario Governments and thanked the governments for their leadership and support.

"This significant proportional support provides a welcome financial bridge at this critical time for our employees, suppliers, dealers and other partners across Canada," says Arturo Elias, President, General Motors of Canada. "We will work closely with the Governments and all our stakeholders to complete the major business transformation we initiated in 2005 to ensure a lean, green and sustainable business. GM Canada intends to earn the trust being placed in us. The support announced today sends a significant signal of stability in the face of the economic and credit challenges faced by Canada's auto sector."

General Motors of Canada (GMCL) is headquartered in Oshawa Ontario and employs 12,000 people nationwide. GM of Canada manufactures vehicles, vehicle powertrains, and markets the full range of General Motors vehicles and related services through approximately 700 dealerships and retailers across Canada.

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