Chrysler To Invest $843M In Kokomo Plants
Chrysler says it will invest another $843 million in its facilities in Kokomo, Indiana. The investment was announced just ahead of appearances Tuesday by President Barack Obama and Vice President Joe Biden at a Chrysler transmission plant in Kokomo.
Chrysler said the money would pay for equipment to modernize the Kokomo transmission and casting plants. It would extend the life of the plants and help retain nearly 2,250 jobs.
Chrysler said the investment would raise Chrysler's commitment to the Kokomo plants to $1.1 billion.
Obama and Biden are visiting the Kokomo factories to tout the success of the auto industry bailout. (More on this). Chrysler received a $12.1 billion bailout from U.S. taxpayers to make it through bankruptcy protection last year.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
