Chrysler announces $266M investment in Kokomo plants - Dodge Nitro Forum
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post #1 of 3 (permalink) Old 12-09-2014, 12:29 AM Thread Starter
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Chrysler announces $266M investment in Kokomo plants

Chrysler announces $266M investment in Kokomo plants

12/09/2014

KOKOMO, Ind. - Chrysler is investing millions of dollars in new manufacturing equipment in Kokomo.

The company announced plans Monday to invest $266 million in new equipment that will help them expand production of 8-speed transmissions at two of its four plants in the city.

Quote:
The Kokomo Common Council approved a ten-year tax abatement on personal property for the project on Monday. The new investment does not involve replacing or removing any equipment, the city said in a release Monday evening.

"Chrysler's investment is one in a series of recent indicators for Kokomo's continued economic expansion," said Kokomo Mayor Greg Goodnight. "Kokomo is thriving. Our city's economic development strategy and quality-of-life initiatives for all of Kokomo are intended to facilitate this type of private investment."

Chrysler employs 7,600 workers at its Kokomo manufacturing facilities.

Kokomo Mayor Greg Goodnight says he's pleased with the news, pointing out the plan is in addition to $1.5 billion in investments by Chrysler announced since 2009. He tells Eyewitness News Monday's announcement further solidifies the workforce at plants in Kokomo and Tipton.
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post #2 of 3 (permalink) Old 12-09-2014, 09:34 AM Thread Starter
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World's largest producer of transmissions

December 8, 2014

News Release

KOKOMO, Ind. - Christmas comes early to Kokomo, as the Chrysler Group LLC has announced plans to invest $266 million in new manufacturing equipment in Kokomo. The investment will enable the company to expand production of its 8-speed transmissions at two of its four Kokomo plants.

Consumer demand for Chrysler’s fuel-efficient vehicles with the 8-speed transmission led to the need to increase manufacturing capacity. More than one million Chrysler vehicles equipped with the Kokomo-built, 8-speed automatic transmission have been sold.

On December 8, the Kokomo Common Council unanimously approved a ten-year tax abatement on personal property taxes for the project. The $266 million investment is for adding new equipment. The project does not involve replacing or removing any equipment.

"Chrysler's investment is one in a series of recent indicators for Kokomo's continued economic expansion," said Kokomo Mayor Greg Goodnight. "Kokomo is thriving. Our city's economic development strategy and quality-of-life initiatives for all of Kokomo are intended to facilitate this type of private investment."

Since 2009, Chrysler has invested more than $1.5 billion at its Kokomo transmission plants.

In 2012, Chrysler completely overhauled the 3.1 million square-foot Kokomo Transmission Plant and installed new manufacturing equipment necessary to produce the 8-speed transmission.

Kokomo is now the world's largest producer of transmissions. The company employs 7,600 at its manufacturing facilities in Kokomo.

Source: City of Kokomo

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post #3 of 3 (permalink) Old 12-22-2014, 09:05 PM Thread Starter
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Thumbs up 12/22/2014 update

Increasing Vehicle Sales Means Additional $266 Million Investment in FCA US Kokomo Facility for Eight-Speed Transmission Production

New investment will increase capacity of fuel-efficient transmission at Kokomo Transmission Plant (KTP)

Sixth investment in five years at KTP for transmission production

TorqueFlite eight-speed automatics are projected to power more than a million vehicles and help owners save 700 million gallons of gas

KTP achieves milestone in implementation of World Class Manufacturing

Company has invested nearly $1.8 billion in its Kokomo transmission operations and almost $5.6 billion in its U.S. facilities since June 2009


December 22, 2014 , Auburn Hills, Mich. -









With sales of vehicles equipped with the popular eight-speed transmission growing, FCA US LLC confirmed that it will invest an additional $266 million in its Kokomo Transmission Plant (Ind.) to increase capacity of the fuel-efficient TorqueFlite transmission. This is the sixth investment made at Kokomo Transmission (KTP) since June 2009, bringing total investment in FCA US Kokomo operations to nearly $1.8 billion.

FCA US, formerly Chrysler Group LLC, notified city officials of the new investment at the Dec. 8, 2014, Kokomo Common Council meeting, asking the Council to amend an existing tax abatement to support this new investment. The investment will be used to purchase new equipment and tooling, adding more assembly capacity within KTP’s existing floor space. With the Council’s approval, work in the plant will begin immediately and be completed in the third quarter 2016. With this investment, there will be retention of employment.

“Since the launch of the eight-speed, employees at Kokomo Transmission have been working practically round the clock to produce this advanced, fuel-efficient transmission,” said Brad Clark, Head of Powertrain Manufacturing Operations, FCA – North America. “We are pleased that vehicles equipped with this transmission have been so well received by consumers. This investment will give us the additional capacity we need to make it available across even more vehicles in our product line.

“We are grateful to Mayor Goodnight and the Kokomo Common Council for their continued support of FCA US,” said Clark. “This investment further demonstrates our commitment to this community and our workforce, and firmly establishes Kokomo as the center of competence for transmission production.”

KTP has been producing the eight-speed transmission since September 2012. In 2013, KTP produced nearly 300,000 eight-speeds. That number has more than doubled to nearly 700,000 in the first 11 months of 2014. Currently, the eight-speed transmission is available on the Jeep® Grand Cherokee, Chrysler 300, Dodge Challenger, Dodge Charger, Dodge Durango and Ram 1500. The Company sold more than 800,000 of these models in the U.S. through November 2014.

The KTP-produced advanced-technology TorqueFlite eight-speed automatics – first of their kind ever made available to mainstream-brand customers – are projected to power more than one million vehicles worldwide. And their combined effect is staggering.

Over their lifetimes, these vehicles are projected to save their owners more than 700 million gallons of fuel, compared with their predecessors that featured five- or six-speed automatics. That quantity of gasoline is worth approximately $2.5 billion at the pump, based on current fuel-price forecasts.

In comparison to the fleet of conventional transmissions they replaced, TorqueFlites promise to reduce carbon dioxide emissions by more than six million metric tonnes over the same timeframe.

Earlier this month, KTP was awarded bronze status for its results in implementing World Class Manufacturing (WCM), a methodology that focuses on reducing waste, increasing productivity, and improving quality and safety in a systematic and organized way. Bronze is awarded after earning a minimum of 50 points in 10 technical and 10 managerial pillars by demonstrating clear WCM know-how and competence through employee-conducted pillar presentations and a review of projects that have been expanded across the shop floor. KTP earned a score of 51.

FCA US Kokomo Investment Announcements
FCA US has made five additional investments in the Kokomo Transmission Plant since June 2009:


May 11, 2010 – Announced an investment of $43 million to increase capacity at its Kokomo Casting and Kokomo Transmission plants, and adapt them to support production of the World Engine and improve processes for the 62TE transmission program.

November 23, 2010 – Announced an investment of nearly $843 million in the Company’s existing transmission manufacturing facilities in Kokomo to accommodate production of a new advanced front-wheel drive automatic transmission.

December 14, 2010 – Confirmed an investment of $85 million in its Kokomo Transmission Plant for a variety of powertrain improvements.

December 2010 – A $300 million investment intended for Indiana Transmission Plant I was reallocated to the Kokomo Transmission Plant to accommodate additional production of the eight-speed automatic transmission.

February 28, 2013 - Announced that it will invest $212 million at Kokomo Transmission, Kokomo Casting and Indiana Transmission I Plants for additional tooling and equipment to produce the eight- and nine-speed transmissions.


Over that same period, the Company has invested nearly $5.6 billion to upgrade and expand its facilities in the U.S.

About FCA US LLC
FCA US LLC is a North American automaker with a new name and a long history. Headquartered in Auburn Hills, Michigan, FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. FCA US designs, engineers, manufactures and sells vehicles under the Chrysler, Jeep, Dodge, Ram and FIAT brands as well as the SRT performance vehicle designation. The company also distributes the Alfa Romeo 4C model and Mopar products. FCA US is building upon the historic foundations of Chrysler, the innovative American automaker first established by Walter P. Chrysler in 1925; and Fiat, founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli.

FCA, the seventh-largest automaker in the world based on total annual vehicle sales, is an international automotive group. FCA is listed on the New York Stock Exchange under the symbol “FCAU" and on the Mercato Telematico Azionario under the symbol “FCA.”

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