June 4, 2007 -- Chrysler Group will build a $570-million (U.S.) plant in Saltillo, Mexico, to manufacture the company's next generation of V-6 engines. Chrysler, most of which is being sold by DaimlerChrysler AG to Cerberus Capital Management LP, said that the plant is part of a $3-billion investment in power trains that is part of its restructuring plan. Construction of the new plant will begin in June of next year the company said. Chrysler said the new family of engines will be more fuel-efficient and part of its plan to produce engines, axles and transmissions that save gasoline. The plant will have the capability of building 440,000 engines per year. DCX rose 20 cents to $91.68.
Source: Associated Press
Source: Factiva
