Tuesday, 11 December, 2018


Fiat Chrysler to move plant from Mexico to Michigan, pay out bonuses

Fiat Chrysler to move plant from Mexico to Michigan, pay out bonuses Fiat Chrysler to move plant from Mexico to Michigan, pay out bonuses
Conrad Doyle | 14 January, 2018, 08:38

The unit of Fiat Chrysler Automobiles, around 6 p.m. on Thursday, issued its statement.

Fiat Chrysler Automobiles (FCA) has announced that it will be investing $1bn into a plant in MI, expected to create approximately 2,500 jobs.

Since June 2009, the company has invested over $10bn in its United States manufacturing operations, adding thousands of jobs to the economy in the process. This changeover will be complete in 2020. "Chrysler is moving a massive plant from Mexico to MI, reversing a years long opposite trend", the President tweeted.

Sterling Heights City Manager Mark Vanderpool recently noted along with Fiat's investment, previous investments by the automaker are resulting in more spending by local suppliers such as Metalsa in the Enterprise Park - built on land formerly occupied by Sunnybrook Golf Course. "Thank you Chrysler, a very wise decision".

The new plant will add an additional 2,500 new jobs to the state economy, while Mexican workers will still continue to produce other Fiat Chrysler models at its Mexico factory, according to The Sun Herald. After dealers and Chrysler engineers failed to pinpoint a problem, some customers called on the automaker to buy the minivans back, and the company came under pressure to determine whether a serious safety defect existed. They would just like to know what's tomorrow. For the 99-percenters unhappy about the prospect of that $2,000 bonus going to the top, fear not because senior management, likely those making six-figure salaries already, will not be invited to split this pool of loot. The payment, which recognizes employees for their continued commitment to the Company's success, will be made in the second quarter of this year, and will be in addition to any profit sharing and salaried performance bonuses that employees would otherwise be eligible to receive in 2018.

File picture shows the Chrysler Pacifica being introduced as the 2017 Utility Vehicle of the Year during the North American International Auto Show in Detroit, Michigan, January 9, 2017. It also engages in the property investment, sourcing, finance, and IT services businesses.

"Macomb County has become Dodge Ram country", Hackel said. Detroit's Big Three have invested billions in MI and Macomb County in the last few years, and that's a statement to the strength of the region, he said.

"It's all taking off here in Macomb County", Hackel said. "This is an awesome statement". This company shares tumbled -34.1% from their most recent record high of $26.25 and now hold $1.87 billion in market value of equity.

On Wednesday, Toyota Motor Corp and Mazda Motor Corp announced they would build a new $1.6 billion joint venture auto assembly plant in Alabama, drawing praise from Trump. More interesting news about Fiat Chrysler Automobiles N.V. (NYSE:FCAU) were released by: Reuters.com and their article: "Fiat Chrysler recalls 10355 Jeep Grand Cherokee SUVs in Russia" published on December 18, 2017 as well as Twst.com's news article titled: "Fiat Chrysler Automobiles NV: November 2017 Fiat Chrysler Automobiles Sales in ..." with publication date: December 14, 2017. Approximately 700 new jobs will be added to support production, FCA said.

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