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Chrysler to overhaul Kenosha engine plant

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Chrysler to overhaul Kenosha engine plant
The Business Journal of Milwaukee - 1:53 PM CDT Monday, June 11, 2007
Chrysler Group is set to announce plans on a major investment in its Kenosha engine plant to retool the factory for production of a new fuel-efficient V-6 engine.

The company intends to announce the investment Wednesday morning as part of its $3 billion "Powertrain Offensive" initiative. The company will be joined by officials from state and local governments and the United Auto Workers Local 72 in the announcement. The 1.9-million-square-foot plant has about 850 workers.

Chrysler will overhaul the Kenosha plant to produce its new "Phoenix" V-6 engine, which is a key part of the struggling automaker's recovery plan. Auburn Hills, Mich.-based Chrysler Group had previously announced plans to build the engine at plants in Saltillo, Mexico, and Trenton, Mich.

The automaker did not disclose the amount of the Kenosha investment. Chrysler is spending $730 million to build the Michigan plant and $530 million on the Mexican plant under the $3 billion plan. The plan is dedicated to new engines, transmissions and axles, in order to move toward a portfolio that is more fuel efficient.

German automaker DaimlerChrysler AG is selling a majority of Chrysler Group to Cerberus Capital Management, a New York City private equity firm.
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