GM to invest in Tonawanda plant |
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Wed, 17 Jan 2007 16:44
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NEW YORK (AFX) - General Motors Corp. said Wednesday it will invest $300 million in its GM Powertrain Tonawanda, N.Y., engine plant, which will manufacture the automaker's new V-8 engine beginning in 2009.The investment includes renovation to part of the plant, new machinery and tooling. Renovations are expected to begin this fall.As a result of the new engine production, Tonawanda will retain 150 jobs, GM said. The new investment brings GM's total investment in the plant to $1.5 billion over the last 10 years.The Tonawanda plant opened in 1938 and employs 1,860 people.GM shares fell 5 cents to $30.80 in morning trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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GM to invest 300 mln usd in Tonawanda plant 