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April 27, 2010

US: GM to unveil major investment package

General Motors is to unveil a US$890m investment package today (27 April) to improve five plants in North America.

General Motors is to unveil a US$890m investment package today (27 April) to improve five plants in North America.

The move. according to US reports, will create or keep around 1,600 posts and appears to involve US$32m for its Bay City site, US$400m in its Tonawanda plant, US$235m for the St Catharines factory, US$115m at Defiance and US$11m for the Bedford site.

Although a specific allocation of jobs is not available, American reports note they will be generally absorbed by laid-off GM staff.

It is believed the major investment will focus on GM’s small-block engine programme.

GM last week unveiled a US$257m investment for its Fairfax site in Kansas and Detroit Hamtramck assembly centre.

The cash injection will allow the Fairfax plant to build the next generation Chevrolet Malibu, as well as ensuring Detroit Hamtramck is a second source for the model.

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