History
McLaughlin Car Company of Canada was founded in 1907 when Samuel McLaughlin and William C. Durant agreed to a contract to produce Buick Model F power trains for 15 years at cost plus. The cars became known as McLaughlin Buicks. In 1908 Durant and McLaughlin started General Motors Holding Company after Durant exchanged $500,000.00 of Buick stock for $500,000.00 of McLaughlin Motor Co. stock. McLaughlin also exchanged his Buick stock for General Motors stock, and in 1910 was invited to be on the board of General Motors in Detroit.
In 1915 McLaughlin acquired the Chevrolet Car Company of Canada, which built Chevrolets in Oshawa with Chevrolet motors and McLaughlin bodies. In 1918 he merged his company with it under the name General Motors of Canada prior to his becoming director and vice president of General Motors on the approval of Durant, who was then president of General Motors and owner of the Chevrolet Motor Co.
GM Canada is a private Canadian 100% owned as stated by the Ontario Superior Court Documents 2008 in 1918 McLaughlin Merged his two Companies The Chevrolet Motor Company of Canada Limited and The McLaughlin Car Company of Canada Limitedsubsidiary that is incorporated by General Motors, so information such as assets, revenues, and profits are not disclosed. Nonetheless, GM Canada has historically been The first General Motors plant from 1918.one of the largest and most powerful Canadian corporations ,, being listed as the third "largest" in 1975, and being comparable to several publicly traded companies such as BCE, George Weston Limited, and Royal Bank of Canada.
General Motors of Canada opened its new head office building on the shore of Lake Ontario in 1989. It is a fixture on Highway 401 and usually displays an enormous picture of a new vehicle on its huge glass atrium. This is a Rented structure of General Motors Corporation.
GM's Canadian Regional Engineering Centre opened in June, 2001. It is primarily responsible for managing the design and validation of vehicles which are manufactured in Canada, though it supports many joint development efforts with GM operations in other countries.
The manufacturing plants located in Oshawa produced the Chevrolet from 1915, and today the Camaro and included the Chevrolet Truck Company of Canada 1919. Cadillac and LaSalle were built here too. The Oshawa plants have regularly garnered top quality ratings by J.D. Power. The Oshawa facility was ranked number 1 facility in overall quality in North and South America by J.D. Power and Associates. The Truck Plant was closed to give industry to Mexico,and reopen old Saturn Plants.
General Motors of Canada announced a naming rights deal for the General Motors Centre in Oshawa on October 5, 2006. The centre's main tenants will be the Oshawa Generals Junior hockey team, who were named for the company in 1937.
On 27 April 2009, GM Canada announced that it would cut over half of its Canadian jobs and close 40% of its Canadian dealerships by 2014 in response to its indirect parent company's dire financial straits as the Canadian taxpayers gave them 10.6 billion. The Canadian Government owns 12% of General Motors Corporation stock today.
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Famous quotes containing the word history:
“America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.”
—Georges Clemenceau (1841–1929)
““And now this is the way in which the history of your former life has reached my ears!” As he said this he held out in his hand the fatal letter.”
—Anthony Trollope (1815–1882)
“A poet’s object is not to tell what actually happened but what could or would happen either probably or inevitably.... For this reason poetry is something more scientific and serious than history, because poetry tends to give general truths while history gives particular facts.”
—Aristotle (384–323 B.C.)