Export Development Canada
Scales back original factory plans and will create fewer jobs in first phase that anticipated.
Auto, aerospace and consumer sectors to power growth nationally.
Assistance could take the form of commercial loans or guarantees.
… despite concerns about global economic conditions
Pressure from Mexico, Southern US and CAFE requirements provide growth potential for auto parts manufacturers, conference hears.
Partial rebound in oil prices expected by 2016, EDC says in latest global export forecast.
Forecast predicts 25% drop in energy exports and a 23% drop in natural gas exports this year.
Machinery, auto parts and aerospace sectors will make up for major losses in energy.
10% increase will be driven by pent up US demand for automobiles and industrial machinery.
Financing, focused on Volkswagen’s expansion in the southern US and Mexico, aims to boost business for Canadian suppliers.
Industrial capacity constraints in the US will help global economic growth over the next two years, an EDC report says.
Growing middle class amongst emerging markets is propelling demand for “value-added” goods.
Could save Canadian exporters as much as $2.8 billion in transaction costs over a decade.
Facility will help company be more competitive in Asian market, it said.
The plant will be the world’s largest bio-based succinic acid production facility.