Chrysler to invest $843M in Indiana transmission plant
Nov 29, 2010 | 07:46 AM
| Corinna Petry
Chrysler Group LLC said it is looking to invest $843 million in an existing transmission manufacturing facility in Kokomo, Ind., pending the local city council's approval of a tax abatement proposal.
Should the city agree to the plan in a Dec. 13 vote, Chrysler would use the expanded factory to accommodate production of a new advanced front-wheel-drive automatic transmission for future vehicles.
The investment would fund the installation of equipment and special tooling to modernize the Indiana Transmission Plants and the Kokomo Casting Plant. The project would extend the life of these manufacturing facilities and help retain nearly 2,250 jobs, Chrysler said in a statement last week. ....
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