May 22, 2007
GM to invest US$332 million in Toledo transmission plant
Mazda2. Click image to enlarge
Toledo, Ohio – General Motors Corporation will invest US$332 million into its Toledo, Ohio transmission plant, to produce a new six-speed, front-wheel drive automatic transmission for the company’s midsize vehicle segment. The investment includes facility renovation, new machinery, equipment and special tooling to support production of the new Hydra-Matic 6T40/45 six-speed transmission.
In addition, the company will invest another US$57 million for vendor tooling, containers and investments at other locations to support the Toledo operations. Construction is slated to begin in July, with transmission production scheduled to begin in February 2010. The project will retain about 600 hourly jobs.
The investment is in addition to US$540 million announced last year for rear-wheel drive six-speed transmission production at the Toledo plant. Construction of that project is about two months ahead of schedule. The Toledo Transmission facility opened in 1916 and moved to its present location in 1955; it employs 2,033 hourly and 256 salaried employees.