Chrysler Group plans $20 million investment in Toledo Machining - 13abc.com Toledo (OH) News, Weather and Sports

Chrysler Group plans $20 million investment in Toledo Machining Plant

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Chrysler Group LLC has announced today that it will invest $19.6 million in its Toledo Machining Plant in Perrysburg.

The investment will increase capacity of the torque converter - it's machining for the nine-speed transmission.

This investment makes the Company's total U.S. investments, since June 2009, over $5.2 billion.

The new torque converters will be paired with the next generation, fuel efficient nine-speed front-wheel drive transmission.

The new transmission is assembled at Chrysler Group's Indiana (Kokomo, Ind.) Transmission Plant I. This transmission will debut in the 2014 Jeep Cherokee.  

UAW Local 1435 President Rich DeVore told 13abc in a statement that this investment puts Chrysler at the top when it comes to increasing fuel efficiency.

"With increased fuel economy and performance that can be found throughout its lineup including the Toledo built Cherokee arriving soon," DeVore said.

The investment will fund the installation of new equipment and tooling for additional machining and assembly capacity.

Installation is expected to begin in the third quarter of 2014 and will be completed by the end of 2014.

Wood County commissioners see this not just as a monetary investment. 

"It's great news," said James Carter, Wood County Commissioner. "We're certainly glad that Chrysler has the continuing confidence in Wood County to do this. It's $20 million but it also helps Chrysler with its fuel economy. It also shows they have great confidence in our workforce."

Senator Sherrod Brown, D - OH, applauds Chrysler's decision to invest in Northwest Ohio. In a statement to 13abc Brown said, "One in every eight jobs in Ohio is connected to the auto industry. Both Chrysler and our hard working men and women are a major reason why."     

Stay with 13abc for updates.

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