Ford agreed to invest $600m in the production of a new vehicle at one of Ford’s assembly plants in Ontario in order to avoid confrontation with Canadian autoworkers.
Actually the Ontario truck plant is scheduled to close though the company has not decided yet. Ford promised to save 900 jobs out of 1,400 unionized positions at the Oakville truck assembly line.
As the company follows its policy of restructuring worth of $9bln in spite of closing an assembly line at Oakville, Ontario Ford agreed to invest $600mln for a new shift at a facility adjacent to the truck assembly line in OakvilleSo Ford has agreed to extend the life of the truck assembly line by a few months until July 2004 and that the factory will be “mothballed” rather than torn down after that.
The choice of the city of Helsinki is not incidental as the capital of Finland had hosted US-Soviet negotiations on the limitation of nuclear stockpiles in 1969