General Motors Company (NYSE:GM) has revealed plans to spend roughly $90 million towards the enhancement of the Marion Metal Center in Indiana.
The $90 million that will be pumped into the facility will be used to bring in new and high-tech equipment. The facility has been around for 60 years and it provides employment opportunities to 1,400 individuals. The facility provides metal parts used in GM automobiles throughout North America. The investment is expected to alight the automotive manufacturer’s stamping strategy with Marion Metal Center. Dan Hermer, the manufacturing manager for GM in North America stated that the investment will allow the firm to continue offering good quality products to its stamping customers in North America.
GM officials revealed that the funds will be allocated in different areas including the replacement of cranes which will receive $2.5 million. About $5.9 million will be spent towards die alterations and $82.5 million will be spent on dies. Cindy Estrada, vice president of the United Automobile Workers stated that the investment will upgrade the technologies and equipment at the Indiana facility. The UAW vice president further added that the funding will allow UAW members to continue providing specialized die services, quality assemblies and quality stamped parts.
She also stated that the investment will be of great help towards giving the plant a competitive advantage against its rivals. The funding has been referred to as the largest investment announced by the Indiana Economic Development Corporation since May. It has also been revealed that the investment in the Marion facility is part of a series of investments carried out by GM in Indiana.
Brian Burton, the president of the Indian Manufacturers’ Association stated that the investment from the automotive company seems to highlight its commitment towards the jobs in Indiana. The firm, however, did not announce any new job openings associated with the expansion of the facility.