Ontario is partnering with the Canadian and American governments to restructure Chrysler and help it become stronger and more sustainable.

Ontario’s participation will help Ontario families — particularly those in Windsor, Brampton and in communities throughout Ontario where auto parts are made — by strengthening the company’s competitiveness during this time of global economic crisis. 

Ontario is contributing loans to Chrysler worth $1.258 billion, which combined with $2.517 billion from the federal government, brings Canada’s total commitment to Chrysler’s restructuring to $3.775 billion. 

This support is proportional to the US $12.08 billion funding package for Chrysler announced earlier today by President Obama.

Read more about the restructuring deal.