News Releases

TORONTO, ONTARIO--(Marketwire - June 18, 2012) - Canada's manufacturing sector is dealing with a changing landscape. A new report from the Organization for Economic Co-operation and Development highlights the challenges of manufacturing in Canada since 2000 and the steep rise in the loonie. Furthermore, businesses have been called upon to increase productivity and rely less on traditional export markets and look at emerging markets.

However, despite continued global unrest, there are positive signs. Nearly 115,000 manufacturing jobs were created over the past six months, the most for any similar period. Canadian factories were at 81 per cent of potential capacity in the first quarter, the highest level in nearly five years.

The outlook for the manufacturing sector will be featured in a media panel on Wednesday, June 20. The panel members include Jayson Myers, President and CEO, Canadian Manufacturers & Exporters, Canada's largest industry and trade association; Tina Kremmidas, Chief Economist, Chamber of Commerce, representing a network of 200,000 businesses; and Cathy Pin, Vice President, BMO Commercial Banking.

Please contact us at 416-867-3996 to confirm attendance or if you have any questions.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $525 billion as at April 30, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.