GM Tech Center Flood Damage Costs $132 Million
WARREN (WWJ/AP) - General Motors Co. says August flooding that caused severe damage to a Warren facility and displaced nearly 19,000 employees has cost about $132 million.
The company disclosed the figure Thursday, saying some of the cost is insured, The Detroit Free Press reported. GM declined to comment on the extent of its insurance but said recoveries will be included in future earnings reports. The company did not receive federal assistance.
The GM Tech Center closed Aug. 12 when floods ravaged the Detroit suburb following record rainfall.
Many employees worked from home or other GM locations for weeks after the flooding. About 30 million gallons of water were pumped out of buildings and tunnels on the Warren campus.
GM has said the flooding didn't delay any vehicle programs.
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