TIRE MAKER GOODYEAR WILL INVEST C$575 MILLION TO UPGRADE CANADA PLANT

The Canadian unit of Goodyear Tire & Rubber Co will invest over C$575 million ($418.4 million) to upgrade its plant in Napanee, Ontario. The project to modernize and expand the plant will create 200 new jobs by 2027 and secure 1,000 jobs in Napanee.

The federal government will provide C$44.3 million in funding for the expansion project, while the Ontario provincial government will contribute C$20 million to support key components of the project. The investment is the latest in Canada's efforts to woo companies involved in all levels of the electric vehicle supply chain to safeguard the future of its manufacturing heartland in Ontario as the world seeks to cut carbon emissions.

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