Chrysler's New Axle Plant in Michigan
by: evander
Total views: 79
Word Count: 401
Chrysler Group broke ground
recently at the future site of the Marysville Axle Plant its Marysville, Mich.
Present at the ground breaking were Chrysler Group executives joined by UAW
officials with state and local dignitaries to celebrate the $700 million
Michigan investment.
The plant was considered a sign
that the Chrysler Group is taking to reach its recovery and transformation plan
which hopefully when realized will help the company to regain financial health
by 2008. The axle plant is just one part of the Company’s “Powertrain
Offensive” which is a $3 billion investment to produce more fuel-efficient
engines, axles, and transmissions for the Chrysler Group.
Construction on the new plant
will start this summer and will employ 900 people when it reaches full volume
in 2010 and expected to produce 1.2 million axles annually. Gary Orr, Mayor of
Marysville, Mich., said, "We came together as several separate entities to
formulate the requirements necessary to attract Chrysler Group to a project
site for their new axle plant. For that we are so very grateful. As a City
Council, we are excited and as Mayor of record I am extremely proud, as an
administrative team, we stand ready to support the successful future of this
great automotive giant."
The investment on the
Marysville Axle Plant will in include engineering and development costs. It can
be noted that the Auburn Hills-based Chrysler Group has already invested $4.4
billion for its
About Chrysler Group
Soon to become Chrysler Holding
LLC is an American automobile manufacturer that has been independently
manufacturing automobiles way back in the year 1925.
Last May 14, 2007
DaimlerChrysler AG announced the sale of 80.1 percent of Chrysler to an
American equity firm, Cerberus Capital Management, L.P. Once the deal is
completed Chrysler will then take on the name Chrysler Holding LLC.
Chrysler and its subsidiaries
were part of the German based DaimlerChrysler AG. The merger was dubbed as a
“Merger of Equals” with Daimler-Benz in 1998. Before the acquisition in 1998,
Chrysler Corporation traded under the “C” symbol on the NYSE. Another popular
term for all Chrysler cars is Mopar which is the name for its parts operation
which includes the production of high quality Dodge Caravan parts.
About the Author
Evander Klum is a Business Administration graduate who hails from Alabama. He enjoys extreme sports and he is also a car racing fanatic. At present, he works as a marketing manager at an advertising agency in Cleveland.
Rating: Not yet rated