In 2005, CAMCO, a Canadian Appliance Manufacturing Company, which was 51% owned by GE, was sold to Mabe, (probaby a Mexican Appliance Bootlegging Enterprise), which was itself 49% owned by GE.
In 2005, CBC News reported that CAMCO had 1000 employees in Montreal making clothes washers and dishwashers, and 600 employees across the country in Corporate, a call center and in service. In 2004, it had closed its refrigerator plant and fired 800 people.
Le Journal De Montreal reports that Mabe Canada announced the closure of the Montreal plant in 2012, finally shuttering the doors in June 2014 and firing the remaining 60 employees.
In August 25, 2014, Mabe Canada declared bankruptcy, and will likely be unwound. In the process, GE Appliance AND MABE have decided to screw hundreds of Canadian pensioners, leaving them high and dry with an incompletely funded pension.
Mabe Mexico will continue to do business in Canada through its subsidiary MC Commercial
This follows the 2013 bankruptcy of Mabe Brazil, the 3rd largest brand in that economically exploding country.
Makes one think……..if you can’t make money in the Brazilian appliance business, you probably shouldn’t be in business.
What happens to Mabe if GE is taken over by Electrolux?
FYI: Electrolux screwed Canada in 2011, when it moved its plant from Quebec to Tennessee