Canada Not Seeking Joint North American Auto Bailout, Aide Says

By Theophilos Argitis

Nov. 15 (Bloomberg) -- Canada isn't seeking to engineer a coordinated support package with the U.S. for ailing North American carmakers, though Industry Minister Tony Clement will travel to Washington next week to gather information, a Canadian official said.

Canadian Press cited Clement late yesterday as saying he would travel to Washington to examine the viability of an ``integrated solution'' between the two countries.

Canada isn't looking at a joint bailout package, said the official, who spoke on condition they not be identified by name. Clement will go to Washington to gain a better understanding of U.S. plans for the industry, the official said.

Auto manufacturers and parts suppliers in Canada are struggling as U.S. auto sales slump amid waning consumer confidence. October was the worst month for car sales since 1945, according to General Motors Corp., hurting Canada's Magna International, Linamar Corp. and Martinrea International.

To contact the reporters on this story: Theophilos Argitis in Washington at targitis@bloomberg.net.