Showing posts with label invest. Show all posts
Showing posts with label invest. Show all posts

Wednesday, 27 July 2011

GM to invest $130M in Warren Technical Campus

General Motors has announced it will be investing $130 million in its Warren, Michigan Technical Campus. The investment, which will add 25 high-tech jobs, will transform the former administrative building into a state-of-the-art Information Technology Operations and Command Center.

Once complete the facility will contain IT laboratories and serve as a worldwide hub of GM’s digital applications. Given its high-tech nature, GM is using a modular design for the campus, allowing for future expansion.

“This new facility and other GM data centers around the world support the tools the company needs to design, build and sell the world’s best vehicles through digital applications enabling all business functions,” said Terry Kline, GM vice president and chief information officer.

GM says the new facility will help streamline its IT infrastructure, thereby reducing operating costs. The new tech center will also cut energy use by 40 percent, which should qualify the facility for Leadership in Energy and Environmental Design (LEEDS) certification by the U.S. Green Building Council.

The entire project is expected to be completed by 2015.


View the original article here

Sunday, 3 July 2011

GM to invest $331M, add 110 jobs to build next-gen SUVs in Texas [Update]

General Motors’ large SUV plant in Arlington, Texas, is about to get a major overhaul to the tune of $331 million in order to prepare for the next-generation versions of the Chevrolet Suburban and Tahoe, GMC Yukon and Cadillac Escalade.

The plant will be getting the necessary changes in order to produce the new models, which are expected to arrive sometime in 2013 to 2014, as well as adding additional production capability. GM has seen solid full-size SUV sales in other markets, namely China, Russia and the Middle East, even as decline has diminished in North America compared to its heyday about a decade ago.

As a result of the changes to the facility, GM will also be adding 110 new hires as part of its overall plan to add approximately 4,000 new jobs in the U.S. over the next few years.

It is expected that GM secured a $1.6 million tax break with Tarrant County this week. The abatement represents a 70 percent cut in tax revenue in exchange for expansion of the plant. While GM will surely welcome to savings, it was far from the $3.4 million the automaker originally sought.

What we know about the next-generation SUVs
GM had not publicly and officially confirmed development of a replacement for its current GMT900 platform-based SUVs until today, when Larry Zahner, the automaker’s Manufacturing Manager, announced the investment.

Zahner called Arlington the “home of GM’s full-size SUVs today and tomorrow,” a comment which elicited an uproar of applause from the plant’s workers, who were gathered to hear the good news.

What Zahner wouldn’t comment on was specifics about the vehicles’ replacements. By most accounts, the GMT900s have been a resounding success for GM – especially given that consumers have generally trended away from large SUVs and smaller crossovers. Still, automakers acknowledge that big SUVs account for a decent share of the market, with sales expected to hit around 250,000 units for the non-luxury market alone.

And that’s a market that GM positively dominates. Its GMC and Chevrolet models are up 7 percent this year to 49,490 units through the first four months of 2011. That’s more than twice what Ford, Nissan and Toyota have sold – combined. Dodge is making big headway with its redesigned Durango, although it is smaller and utilizes unibody construction compared to the simpler – but more durable – body-on-frame design of the GMT900s, the Ford Expedition, the Nissan Armada and the Toyota Sequoia.

At this point, all we can do is speculate about the big GM ‘utes’ future. Look for them continue sharing a platform with GM’s next-generation full-size pickups, although a changeover to a fully independent rear suspension seems like a necessary move for both packaging – think fold-away third rows – and weight reduction for fuel savings.

GM’s next-generation V8s will offer more power and notably better fuel economy – although the trucks are currently the highest rated in the segment at 15/21 with the 5.3-liter V8.

Look for more news about the next-generation GM SUVs to sneak out of the automaker’s headquarters soon.


View the original article here

Saturday, 18 June 2011

GM to invest $331M, add 110 jobs at large SUV plant in Texas [Update]

Thursday, May 26th, 2011 @ 1:14 p.m.

General Motors’ large SUV plant in Arlington, Texas, is about to get a major overhaul to the tune of $331 million in order to prepare for the next-generation of the Chevrolet Suburban and Tahoe, GMC Yukon and Cadillac Escalade.

The plant will be getting the necessary changes in order to produce the new models which are expected to arrive sometime in 2013 to 2014, as well as adding additional production capability.

As a result of the changes to the facility GM will also be adding 110 new hires as part of its overall plan to add approximately 4,000 new jobs in the U.S. over the next few years.

GM is still announcing further details of the deal right now, but it is expected that GM secured a $1.6 million tax break with Tarrant County this week. The abatement represents a 70 percent cut in tax revenue in exchange for expansion of the plant. While GM will surely welcome to savings, it was far from the $3.4 million in savings the automaker originally sought.

Stay tuned for more details from Arlington in the next hour.

References
1.’Tarrant County approves…’ view
2.’GM to add 110…’ view


View the original article here

Monday, 13 June 2011

GM to invest $331M, add 110 jobs to build next-gen SUVs in Texas [Update]

General Motors’ large SUV plant in Arlington, Texas, is about to get a major overhaul to the tune of $331 million in order to prepare for the next-generation versions of the Chevrolet Suburban and Tahoe, GMC Yukon and Cadillac Escalade.

The plant will be getting the necessary changes in order to produce the new models, which are expected to arrive sometime in 2013 to 2014, as well as adding additional production capability. GM has seen solid full-size SUV sales in other markets, namely China, Russia and the Middle East, even as decline has diminished in North America compared to its heyday about a decade ago.

As a result of the changes to the facility, GM will also be adding 110 new hires as part of its overall plan to add approximately 4,000 new jobs in the U.S. over the next few years.

It is expected that GM secured a $1.6 million tax break with Tarrant County this week. The abatement represents a 70 percent cut in tax revenue in exchange for expansion of the plant. While GM will surely welcome to savings, it was far from the $3.4 million the automaker originally sought.

What we know about the next-generation SUVs
GM had not publicly and officially confirmed development of a replacement for its current GMT900 platform-based SUVs until today, when Larry Zahner, the automaker’s Manufacturing Manager, announced the investment.

Zahner called Arlington the “home of GM’s full-size SUVs today and tomorrow,” a comment which elicited an uproar of applause from the plant’s workers, who were gathered to hear the good news.

What Zahner wouldn’t comment on was specifics about the vehicles’ replacements. By most accounts, the GMT900s have been a resounding success for GM – especially given that consumers have generally trended away from large SUVs and smaller crossovers. Still, automakers acknowledge that big SUVs account for a decent share of the market, with sales expected to hit around 250,000 units for the non-luxury market alone.

And that’s a market that GM positively dominates. Its GMC and Chevrolet models are up 7 percent this year to 49,490 units through the first four months of 2011. That’s more than twice what Ford, Nissan and Toyota have sold – combined. Dodge is making big headway with its redesigned Durango, although it is smaller and utilizes unibody construction compared to the simpler – but more durable – body-on-frame design of the GMT900s, the Ford Expedition, the Nissan Armada and the Toyota Sequoia.

At this point, all we can do is speculate about the big GM ‘utes’ future. Look for them continue sharing a platform with GM’s next-generation full-size pickups, although a changeover to a fully independent rear suspension seems like a necessary move for both packaging – think fold-away third rows – and weight reduction for fuel savings.

GM’s next-generation V8s will offer more power and notably better fuel economy – although the trucks are currently the highest rated in the segment at 15/21 with the 5.3-liter V8.

Look for more news about the next-generation GM SUVs to sneak out of the automaker’s headquarters soon.


View the original article here

Tuesday, 19 April 2011

GM to invest $30M into Pontiac stamping plant

Thursday, Mar 31st, 2011 @ 6:20 a.m.

A 79-year old plant, the Pontiac Stamping Plant, in Michigan, has just been given a new injection of life by General Motors.

GM has announced that it will be investing over $30 million into its Pontiac plant in order to upgrade its tooling and equipment as it prepares to begin producing components of the upcoming Chevrolet Sonic and Buick Verano small cars.

Thanks to the injection of funding, Pontiac Stamping will be able to able to upgrade three existing conventional press lines, as well as add two new presses that are being added as part of GM’s overall effort to consolidate its pressing operations. GM says the combined changes will help to make Pontiac a regional center for several plants.

The new was welcomed by the 290 existing employees at the plant, members of the UAW Local 653.


View the original article here