Chrysler readies to invest

The Chrysler Group, struggling to restructure its operations despite the constant churn of speculation about its future, looks poised to announce hundreds of millions of dollars in investments in southeast Michigan to improve its ability to make engines, transmissions and axles.

On Tuesday, a state board approved more than $11 million in tax incentives for DaimlerChrysler AG to entice the company's U.S.-based unit to build a new plant at its Trenton engine facility.

As part of the deal, DaimlerChrysler has pledged to invest at least $500 million in at least two other Michigan facilities, state records say.

Read Full Article from Detroit Free Press

- Posted: 2007-04-18 10:31:30

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