GM Builds Third Stamping Press at Wentzville Plant, Missouri image

GM said it will build a third stamping press at the Wentzville plant, adding 55 new jobs.

The US automaker said it will invest $133 million to build a 114, 000-square-foot stamping press addition at the Wentzville assembly and stamping plant, located near St. Louis, Missouri. The plant was opened three decades ago, has 2,000 employees and manufactures the Chevrolet Express and GMC Savana full-size vans, but it will add the Chevrolet Colorado and GMC Canyon later this year.

In November 2011 GM announced it will invest $380 million at the Wentzville assembly plant to prepare it for the new production. The construction for the new stamping press will begin in July and it is expected to be operational by 2015.

Last month GM said it plans to invest $16 billion by 2016 in US plants, more than what it plans to invest in China. By making the investment of $16 billion in the US, CEO Dan Akerson plans to increase operating margins to 10% by mid-decade from 7.4% in the last three years.

“Our investments in the U.S. and China reflect our determination to remain No. 1 in the world’s top two markets,” said Greg Martin, a GM spokesman.

Source: freep.com