General Motors investment retaining jobs at Toledo facilities - News, Weather, Sports, Toledo, OH

GM to invest $55 million in Toledo plant

General Motors has announced a multimillion-dollar investment for six regional plants, including $55.7 million for the Toledo Powertrain Plant. General Motors has announced a multimillion-dollar investment for six regional plants, including $55.7 million for the Toledo Powertrain Plant.
TOLEDO, OH (Toledo News Now) -

General Motors has announced it will be investing nearly $332 million in four regional manufacturing sites to produce more fuel-efficient engines and transmissions, including the Toledo Powertrain Plant.

GM plans on investing the money in plants located in Flint and Bay City, MI, Bedford, IN, as well as Toledo. This is part of an overall announced investment of $1.2 billion that GM is making in the U.S.

According to a press release, GM's $331.8 million investment will be distributed as the following:

-$215 million to Flint Engine Operations  

-$55.7 million to Toledo Transmission Operations

-$31.7 million to Bay City Powertrain

-$29.4 million to Bedford Castings

Toledo's Powertrain Plant's $55 million will support production of a new Ecotec small gas engine, a new V6 engine, 8-speed transmission, and tooling for an existing 6-speed transmission. The Toledo-based 8-speed will be used in numerous GM vehicles by the end of 2016.

In 2011, GM invested $286 million, which was divided into $204 million of support for an 8-speed transmission, along with $82 million for a 6-speed front wheel transmission.

GM also says it will increase its investment by $46 million in plants in Romulus and Saginaw, MI, totaling $646 million. The increase in Saginaw will help support the production of castings for the new V6 engines, while the increase for Romulus will help support building the new V6 engines.

The increased investment of $646 million will be distributed as the following: 

-A $41 million increase to $256 million for Saginaw Metal Castings Operations

-A $5 million increase to $390 million for Romulus Engine Operations  

The investments will not create new jobs, but will retain 1,650 jobs at the facilities.

Copyright 2013 Toledo News Now. All rights reserved.

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