LIME CITY – Chrysler Group LLC announced Friday it will be investing nearly $20 million in the Toledo Machining Plant, located in Perrysburg Township on Chrysler Drive.
The $19.6 million investment, according to a press release, will increase capacity for the production of parts for new fuel-efficient nine-speed transmissions.
The new transmission will debut in the 2014 Jeep Cherokee.
The installation of new equipment and tooling as the result of the investment is expected to being in the third quarter of 2014 and will be completed by the end of that year.
No new jobs are to be created by the investment. The plant currently employs 884 people and covers 1.2 million square feet.
The $19.6 million investment, according to a press release, will increase capacity for the production of parts for new fuel-efficient nine-speed transmissions.
The new transmission will debut in the 2014 Jeep Cherokee.
The installation of new equipment and tooling as the result of the investment is expected to being in the third quarter of 2014 and will be completed by the end of that year.
No new jobs are to be created by the investment. The plant currently employs 884 people and covers 1.2 million square feet.
