FCA To Invest $1B Into Warren Plant, Create 2500 Jobs

13 January, 2018, 05:07 | Author: Brenda Erickson

FCA said that the move will create 2,500 new jobs at the plant, on top of 2,000 new jobs the company announced in January past year as it tools up to build more pickups and sport utility vehicles in USA plants.

The company is also making a special bonus payment of $2,000 to approximately 60,000 FCA hourly and salaried employees in the USA, excluding senior leadership. Separately, the Euro-American automaker announced plans to pay $2,000 bonuses to 60,000 USA hourly and salaried employees this coming spring. And it invested over $1 billion in a Toledo, Ohio plant to handle the completely redesigned 2018 Jeep Wrangler. President Trump showered praises on Twitter saying, "More great news as a result of historical Tax Cuts and Reform".

To support the increased volume at the Warren facility, 2,500 new jobs will be created, above and beyond the jobs announced as part of the January 2017 announcement.

The Warren Truck Assembly Plant now builds the Ram 1500 and it has done so for decades, but half-ton Ram truck production is being shifted over to the Sterling Heights Assembly Plant. The Saltillo plant will be altered to produce commercial vehicles for the global market, according to FCA.

FCA's investment announcement related to the production of its next-generation Ram Heavy Duty pickups.

CEO Sergio Marchionne said in a statement that the announcements reflect the company's ongoing commitment to manufacturing in the US. This has resulted in the change in priorities among the vehicle manufacturers who are now manufacturing more trucks while making a reduction in their auto production, as per sources.

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"This is unbelievable", Hackel said.

"While the news is positive, the UAW is reviewing the details", Rothenberg said, noting union officials would likely have more to say later.

The FCA's decision was made in wake of President Donald Trump's threat to withdraw from the North American Free Trade Agreement (NAFTA) or overhaul the deal.

The entire industry increased production in Mexico by 13 percent a year ago, while decreasing in Canada and the USA due to decelerating US market.

Trump has threatened to force the rollback of NAFTA, which makes it possible for the free flow of products made in the United States, Canada and Mexico throughout the borders of those nations.

Thursday's announcement was the second major auto factory news in as many days. Fiat Chrysler Automobiles N.V. has P/S value of 0.27 while its P/B value stands at 1.51.

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