Washington, DC – In its viability plan submitted to the U.S. government today, General Motors indicated that it was looking for a level of long-term financial assistance from the Canadian federal and Ontario governments “that is proportional to the total support provided to GM by the U.S. government, as well as “proportional levels of manufacturing in Canada.”

In a section specifically devoted to Canada, the GM viability plan stated, “Progress has also been made with the Canadian Federal and Ontario governments toward an agreement focused on maintaining proportional levels of manufacturing in Canada and on providing GMCL with a level of long-term financial assistance that is proportional to the total support provided to GM by the U.S. government. GMCL is continuing dialogue with its unions and the Canadian government with a target to finalize both agreements in March 2009.”

“Discussions are well advanced with the Canadian Federal and Ontario governments regarding long-term financial assistance to execute the restructuring actions necessary for long-term viability and with the Canadian Auto Workers (CAW) union on achieving competitive labour costs. The CAW has committed to achieving an hourly cost structure that is consistent with what is ultimately negotiated with the UAW.”

The submission warned that if a satisfactory agreement isn’t reached, GM of Canada may not be viable. “In the event that an agreement cannot be reached, GM will be required to re-evaluate its future strategy for GMCL since it would not be viable on a standalone basis.”

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