Chrysler to boost stake in Kokomo
Eight-speed transmission plant planned as company expands investment
Freep.com is reporting Chrysler is making an additional investment in its Kokomo, IN transmission plant. The automaker plans to build an eight-speed transmission at their plant, adding an $85 million investment to the $1.2 million Chrysler will spend in Kokomo to build a front-wheel drive transmission.
Chrysler will receive a tax abatement, approved this week by the Kokomo City Council, on the investment for that part of the facility, according to the report.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey