The Herald Bulletin

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February 19, 2013

Chrysler to make Kokomo jobs announcement

KOKOMO, Ind. — Chrysler Chairman and CEO Sergio Marchionne will join Indiana Gov. Mike Pence to make a major jobs announcement in Kokomo Feb. 28.

Chrysler officials confirmed Marchionne’s visit, his second public appearance in Kokomo since taking the reins at Chrysler, will be to announce investments and jobs to boost transmission manufacturing in Indiana.

State and local officials will join Marchionne and Pence, along with representatives from the United Auto Workers union and Chrysler company employees.

The event will begin at 11:30 a.m. at Chrysler’s Kokomo Transmission Plant, one of several facilities in the Kokomo area where the company is investing in new equipment.

Kokomo Mayor Greg Goodnight, Tipton Mayor Don Havens, Tim Bressler, executive assistant to the vice president, UAW Chrysler Department, and Brad Clark, Chrysler’s director of transmission operations, are all expected to attend the announcement.

In December, Chrysler officials announced plans to invest $162 million in equipment in the former Getrag Transmission plant at the intersection of U.S. 31 and Ind. 28, in Tipton County. The company said it will create 850 new jobs at the facility with an annual payroll of $39.4 million.

In Kokomo, Chrysler officials announced last year they intend to produce fuel efficient eight- and nine-speed transmissions at the Kokomo transmission plants, where local officials approved abatements on what is expected to be a $1.3 billion investment in new transmission manufacturing lines.

Chrysler sales have been driving the investments. In 2012, the company reported a net profit of $1.7 billion. January 2013 sales were the company’s highest in five years.

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