GM rebounding

General Motors continues its rebound and has posted record profits, after a near collapse three years ago.

The company reported a net income of $7.6-billion in 2011 — a 62% increase from the $4.7-billion it made in 2010.

Revenue increased by 11% to $150.3 billion in 2011.

What that means for workers in Niagara is still unclear, but any rise in profit is a good thing, said Canadian Auto Workers local 199 unit plant chair Terry White.

“It tells me workers in St. Catharines are doing a good job and workers in North America are doing a good job,” he said. “Any time that happens, it helps with jobs.”

In January, GM recalled 42 employees for its new transmission line in the St. Catharines powertrain plant.

At the time, the 103-year-old automaker said it will invest $8.8 million in the Glendale Ave. facility for its next generation of six-speed, front- wheel drive transmissions.

That’s on top of the company’s 2010 pledge to invest $245 million in the plant.