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GM Investing $545 Million In Five Core Michigan Plants


February 2006
 Filed under: GENERAL MOTORS CORPORATE Car News | GENERAL MOTORS CORPORATE Headlines

Investment for Pontiac, Ypsilanti, Romulus and Lansing Sites

PONTIAC, Mich. – General Motors today announced it is investing more than $545 million in five of its key Michigan-based manufacturing plants.
The specific facility investments are:

· $163 million to retool its Pontiac truck plant for production of the next generation Chevrolet Silverado and GMC Sierra full-size trucks late this year

· $32 million in its Pontiac metal stamping plant for innovative sheet hydroforming equipment used to stamp much of the sheet metal for the Pontiac Solstice, Saturn Sky and the future Opel roadster

· $138 million for its Lansing Grand River assembly plant to expand the body shop by more than 120,000 sq. ft. for future vehicle production

· $152 million for its Ypsilanti Transmission plant to increase production capacity of GM’s new rear-wheel drive six-speed transmission

· $60 million for the Romulus Engine plant for various future engine upgrades

“GM’s investments demonstrate our commitment to continuously improve our products,” said Joe Spielman, vice president and general manager of GM North America Manufacturing. “They also show our dedication to strengthening our Michigan manufacturing operations.”

Michigan Governor Jennifer Granholm commented on the importance of the investment. "GM's decision to invest more than a half billion dollars in these manufacturing plants clearly signals their belief in our highly skilled and dedicated work force,” Granholm said. “Because the automotive industry is such an important cornerstone of our state's economy and livelihood, we are thankful that GM has chosen to further invest in Michigan."

These investments help GM retain current jobs at the five facilities, while creating more than 280 new jobs at the Pontiac truck assembly plant. GM does not anticipate the need for any new hires.

General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM operates one of the world’s leading finance companies, GMAC Financial Services, which offers automotive, residential and commercial financing and insurance. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.

Source: GM

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