Chrysler signals future for Toledo plant with $72M investment

Chrysler announced a major investment plan that would see $365 million put into various aspects of its Toledo, Ohio, plants just two weeks ago – today we have news of the first stepWhile the overall plan calls for $365 million and the creation of some 1,100 new jobs in Toledo, the investment announcement today will involve just $72 million for the Toledo Machining Plant and only acts to preserve – not create – 640 existing positions.The investment is intended to update the factory so that it can produce the latest generation of front- and rear-wheel drive torque converters and steering column assemblies. The new torque converters will be paired with the next generation eight-speed rear-wheel drive transmission being built at Chrysler’s Kokomo Indiana Transmission Plant and the all-new nine-speed front-wheel drive transmission to be produced at the company’s Indiana Transmission Plant I.“We welcome this investment in Toledo Machining as it is an acknowledgement of the high quality components that have been produced by our skilled workforce for many years,” said Scott Garberding, senior vice president and head of manufacturing, Chrysler Group LLC. “Being able to bring new technology to this facility secures its long-term future.”

The state of Ohio also provided special tax conditions to Chrysler for its continued contributions to the local economy.