Chrysler deal saves Michigan plant from shutdown
Chrysler Group reached a deal with the shell company holding its old assets to acquire a Sterling Heights, Mich., assembly plant for $20 million, according to U.S. Bankruptcy Court documents.
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Source: Chrysler deal saves Michigan plant from shutdown
Quote from the article:
The purchase would keep the plant in the Chrysler fold, reversing a controversial decision fought by the UAW that at one time would have closed the plant as soon as the end of this year. The move would save about 1,200 jobs at the plant, which builds the automaker's Chrysler Sebring and Dodge Avenger mid-size sedans, and serves as a major victory for the UAW, which owns 55 percent of Chrysler. Chrysler, which emerged from bankruptcy in June 2009 under the management control of Fiat S.p.A, had already decided to produce upgraded versions of the Sebring and Avenger at the plant through 2012. |
Source: Chrysler deal saves Michigan plant from shutdown
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