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Chrysler Group Plans to Invest Nearly $20 Million in Toledo Machining Plant

 Chrysler Group Plans to Invest Nearly $20 Million in Toledo Machining Plant

PR Newswire

AUBURN HILLS, Mich., April 26, 2013

AUBURN HILLS, Mich., April 26, 2013 /PRNewswire/ --

  oInvestment to increase capacity for production of torque converters for
    new generation, fuel-efficient nine-speed transmission
  oCompany's total investment in U.S. facilities over $5.2 billion since June
    2009 

Chrysler Group LLC announced today that it will invest $19.6 million in its
Toledo Machining Plant in Perrysburg, Ohio, to increase capacity of the torque
converter it's machining for the nine-speed transmission. With this
announcement, the Company's total investments in its U.S. operations since
June 2009 increase to over $5.2 billion.

The new torque converters will be paired with the next generation, fuel
efficient nine-speed front-wheel drive transmission being assembled at
Chrysler Group's Indiana (Kokomo, Ind.) Transmission Plant I. The new
transmission will debut in the 2014 Jeep® Cherokee.

"The new nine-speed transmission is a critical part of our strategy to meet
fuel economy requirements over the next several years and Toledo Machining
will play an integral role in bringing this transmission to market," said
Scott Garberding, Senior Vice President, Manufacturing, Chrysler Group LLC.
"Securing this additional investment is a testament to the dedication and
commitment of the plant's workforce and helps secure its future long-term."

The investment will fund the installation of new equipment and tooling for
additional machining and assembly capacity. Installation is expected to begin
in the third quarter of 2014 and will be completed by the end of 2014.

In August 2011, a $72 million investment in Toledo Machining was announced to
modernize the plant to produce the eight- and nine-speed torque converters on
two new production lines and a new steering column for the Dodge Dart and Jeep
Cherokee. These installations will be complete in the third quarter this year.

"We're very pleased that Chrysler is once again investing in the Toledo
Machining Plant and the skilled workforce there," said General Holiefield,
Vice President and Director, UAW Chrysler Department. "This will help preserve
and enhance jobs in the area and give a greater measure of security to our
members and their families well into the future."

In February, the Company announced that it was investing $374 million in
several of its Kokomo, Ind., facilities, including establishing a new
manufacturing site in Tipton, Ind., to increase production capacity of the
nine-speed transmission.

Toledo Machining currently produces torque converters for Kokomo Transmission
(Ind.), Indiana Transmission I and II (Kokomo, Ind.), Sterling Heights
Assembly (Mich.), and Toluca (Mex.).

The plant also produces steering columns for the following assembly plants:
Warren Truck (Mich.), Belvidere (Ill.), Sterling Heights (Mich.), Toledo
Assembly Complex (Ohio); Windsor (Ont.), Toluca (Mex.), Saltillo (Mex.), Arab
American Vehicles (Egypt) and Carabobo (Venezuela).

SOURCE Chrysler Group LLC

Website: http://www.chryslergroupllc.com
Contact: Jodi Tinson, (248) 512-2944 (office), (586) 219-0677 (cell),
jodi.tinson@chrysler.com
 
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