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Chrysler to herald investments


May 17, 2007

BY ALEJANDRO BODIPO-MEMBA

FREE PRESS BUSINESS WRITER

Next week, Chrysler Group will celebrate the previously announced plan to invest $700 million in its Marysville Axle plant as part of the company’s $3-billion “Powertrain Offensive.”

The Auburn Hills automaker said it will host a groundbreaking event on May 21 at a 2 p.m. that will feature Chrysler executives, union officials and local politicians.

On Monday, DaimlerChrysler AG announced it reached a deal to sell a majority of the Chrysler Group to private equity firm Cerberus Capital Management for about $7.4 billion.

Chrysler officials said the Powertrain Offensive, which calls for a $1.78-billion investment in Michigan, also includes $730 million for a new plant in Trenton, $300 million to expand its paint shop at the Sterling Heights assembly plant and $50 million for retooling Warren Truck Assembly plant and Warren Stamping for future product.

Contact ALEJANDRO BODIPO-MEMBA at 313-222-5008 or [email protected].

Copyright © 2007 Detroit Free Press Inc.
 
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