General Motors (GM) workers in Ontario have agreed contracts securing more than $1 billion Canadian dollars ($719.6 million) in investments and new production at Canadian facilities, the Canadian union Unifor said Monday.

The contracts include CA$144 million for GMC Sierra production in Oshawa and CA$215 million for transmission production in St. Catharines, the union said.

The deal also includes prior commitments of CA$691 million for a sixth-generation V8 engine in St. Catharines and CA$63 million for stamping and other upgrades in Oshawa, Unifor said.

The agreements provide 3% annual wage increases over three years and extend the Income Maintenance Plan for eligible workers on layoff until May 2028, it said.