Chrysler Group LLC announced it will invest almost $20 million in its Toledo Machining Plant in Perrysburg, Ohio, as part of a larger investment plan to improve capabilities.
Chrysler will spend$19.6 million for the installation of new equipment and tooling for transmission machining and assembly in anticipation of new build techniques that improve vehicle performance and fuel efficiency. The plant will begin manufacturing torque converters for the 2014 Jeep Cherokee by the end of 2013.
Chrysler previously invested $72 million in the Toledo plant for machinery and tooling expansions during 2011 to expand the manufacture of torque converters in the Dodge Dart and Jeep Cherokee.
“The new nine-speed transmission is a critical part of our strategy to meet fuel economy requirements over the next several years and Toledo Machining will play an integral role in bringing this transmission to market,” Scott Garberding, Chrysler manufacturing senior vice president, was quoted by American Machinist as saying. “Securing this additional investment is a testament to the dedication and commitment of the plant’s workforce and helps secure its future, long-term.”