Chrysler to invest in Kenosha plant

By From Business Week| Jun 12 2007
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Chrysler announced Monday it will make a major investment in its Kenosha Engine Plant so it can manufacture the company's next generation of V-6 engines.

The efforts are part of the struggling automaker's restructuring plan, which includes a $3 billion investment in powertrains.

Chrysler will announce how much it is spending to overhaul the plant on Wednesday, when company executives, along with state and local officials are expected to appear there. About 850 people work at the Kenosha plant.

The Detroit automaker previously announced it will build the same "Phoenix" engine at plants to be constructed in Saltillo, Mexico and Trenton, Mich.

Chrysler has said the new family of engines will be more fuel efficient and part of its plan to produce engines, axles and transmissions that conserve gasoline.

DaimlerChrysler AG is in the process of selling a majority share in Chrysler to Cerberus Capital Management LP.

Dan Kirk, president of the United Auto Workers Local 72, said workers at the plant were excited for the challenge. He said he did not know how much Chrysler would invest in the plant, but any news was good news.

"It's definitely long-awaited," he said.

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