Monday, January 28, 2013

Reuters: Bankruptcy News: UPDATE 1-GM to invest $600 mln in Kansas City car plant

Reuters: Bankruptcy News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
UPDATE 1-GM to invest $600 mln in Kansas City car plant
Jan 28th 2013, 17:59

  • Tweet
  • Share this
  • Email
  • Print

Mon Jan 28, 2013 12:59pm EST

  DETROIT, Jan 28 (Reuters) - General Motors Co on  Monday said it will invest $600 million at its assembly plant in  Kansas City, Kansas, to build a new paint shop and make other  upgrades.      The investment is part of the U.S. automaker's previously  announced plan to spend $1.5 billion on its North American  plants this year, up from the $436 million last year. GM invests  $8 billion annually on its operations globally.       GM builds the Chevrolet Malibu and Buick LaCrosse cars at  the Fairfax Assembly Plant in Kansas City, and the Detroit  company said production there will not be affected by the work  over the next two years after it begins later this year. The  work includes adding a 450,000-square-foot paint shop,  installing a new stamping press and other upgrades, and is one  of the company's largest plant investments ever.       The plant, which employs almost 3,900 people, built more  than 283,000 cars last year, up from 279,117 in 2011.      GM, which has invested $10.2 billion in the North American  market since its 2009 bankruptcy and $50 billion U.S.  taxpayer-funded bailout, has said it will refresh 70 percent of  its U.S. vehicle lineup in 2012 and 2013.      The new paint shop will occupy a new building and includes  substantial technology upgrades, including up to 50-percent less  energy use per vehicle and reduced emissions as well as reduced  water use, GM said. The new stamping press will replace the  current middle press used to create some of the structural  reinforcements for vehicle body frames, and is expected to  improve vehicle quality.  

Related Quotes and News

Company

Price

Related News

  • Tweet this
  • Link this
  • Share this
  • Digg this
  • Email
  • Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/

Comments (0)

Be the first to comment on reuters.com.

Add yours using the box above.


You are receiving this email because you subscribed to this feed at blogtrottr.com.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

0 comments:

Post a Comment

 
Great HTML Templates from easytemplates.com.