New investment at General Electric Great News for Peterborough Workers
March 19, 2013, 4:15 PM EST
A new CAW collective agreement at General Electric includes a significant investment in the company's Peterborough, Ontario facility that will be used to create a "North American Centre of Excellence" for large, slow-speed motors.
The initial investment will include approximately $21 million for the first phase of restructuring with an additional $5 million investment to support wind and solar businesses.
"This investment will help turn Peterborough's GE large motor operations into modern facilities with the most up to date technology and capable of competing for a wide range of work," said Jerry Dias, assistant to the CAW President. "Not only will the creation of a North American Centre of Excellence mean greater job security for Peterborough workers, it will also potentially generate new jobs," Dias said.
In Peterborough, CAW Local 524 represents approximately 550 workers at GE's large motors division. Workers overwhelmingly approved a new three-year agreement at GE at a ratification vote February 16.
"GE will continue to aggressively pursue significant marine opportunities with the Canadian government for the National Shipbuilding Procurement Strategy," a company news release states. "If successful, Peterborough will be GE's production facility of choice to meet demand for propulsion motors, generators and other components for these ships, potentially resulting in additional jobs at the facility."
In October of 2011 the federal government announced $35 billion in naval, coast guard and icebreaker shipbuilding contracts under the National Shipbuilding Procurement Strategy.