GM INVESTS $174 MILLION IN NEW LANSING STAMPING FACILITY
LANSING, Mich. – General Motors will start construction of a $174-million stamping facility that will create or retain about 145 jobs, the company said today.
The new facility, part of the company’s Lansing Grand River Assembly Plant, will produce stamping components for the Cadillac ATS and Cadillac CTS family of vehicles and a future product.
“Lansing Grand River Assembly is known for the high quality of its work and the flexible manufacturing that has been a trademark since it opened,” said GM North America Manufacturing Manager Christine Sitek. “Today’s announcement demonstrates GM’s commitment to strengthening key plant capabilities related to quality and efficiency.”
The new facility, which comes on line in 2016, will save about $14 million a year in logistics costs tied to material handling.
Built in 2001, Lansing Grand River is GM’s second-newest U.S. assembly plant and the manufacturing home of the Cadillac ATS, CTS and the CTS V-series performance versions. Earlier this year, Motor Trend magazine recognized the all-new 2014 Cadillac CTS sedan with its Car of the Year award.
“This major investment is a vote of confidence in the hard-working membership of UAW Local 652,” said UAW Vice President Cindy Estrada, who directs the union’s General Motors Department. “We’re proud of the role we played in helping rebuild Michigan’s economy through collective bargaining and negotiations for investment and jobs in our UAW-represented plants.”
“I think I can speak for all of the UAW members at General Motors’ Lansing Grand River plant when I say we are thrilled to have this additional investment in the plant and the jobs it will create in the community,” said UAW Region 1D Director Gerald Kariem.
Including today’s announcement, GM has announced Lansing facility investments of more than $530 million since 2009.
2010
- $190 million for the addition of the Cadillac ATS and 600 jobs
- $37 million at Lansing Delta Township Assembly plant for tooling and equipment to enhance the plant’s manufacturing capabilities
2011
- $88 million for the all-new 2014 Cadillac CTS sedan
2012
- Announced Lansing Grand River would produce the next-generation Camaro
2013
- $44.5 million and 200 jobs for a new logistics optimization center at LGR
Since 2009, GM has announced nearly $11 billion of investment in U.S. facilities, including $777 million so far this year.
“Once again, our hometown car company is hitting it out of the park with a massive new investment at Lansing Grand River,” said Lansing Mayor Virg Bernero. “I’m deeply grateful to General Motors for making the Lansing region a centerpiece of its global manufacturing strategy. Its confidence in our world-class UAW workforce and strong partnership with local government will continue to deliver jobs and prosperity in Lansing for decades to come.”
GM DECLARES DIVIDEND ON COMMON STOCK
DETROIT – General Motors Co. (NYSE: GM) Board of Directors today declared a third-quarter 2014 dividend of 30 cents per share on its common stock. The dividend is payable Friday, Sept. 26, 2014 to all common stockholders of record as of Wednesday, Sept. 10, 2014.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world’s largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services