| GM Will Build $200 Million Stamping Facility in Texas |
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01/02/2012 04:17 (105 Day 15:57 minutes ago) | |||||
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The FINANCIAL -- General Motors will start construction next week on a new $200 million stamping facility that will create approximately 180 jobs, told General Motores.
The new facility, part of the company’s Arlington manufacturing complex, will produce large stamping components for the next generation of full-size Chevrolet Tahoes, Suburbans, GMC Yukons and Cadillac Escalades.
Currently, Arlington receives stamped components from several GM plants, with some parts coming from more than 1,000 miles away. The new facility, which comes on line in 2013, will save about $40 million a year in logistics cost. The new facility is in addition to a $331 million investment to purchase tooling and equipment and expand the Arlington Assembly Plant that was announced along with 110 additional jobs in May 2011.
Tuesday’s announcement is the first manufacturing investment by GM in 2012. Since June 2009, the company has announced more than $6.9 billion of investment to upgrade or expand operations in 12 states, creating or retaining more than 17,600 jobs.
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