(BEDFORD) - General Motors announced this week it will invest $29.2 million in its Bedford Castings plant in an effort to gear the facility up to produce more transmission parts.
It's the second major investment GM (NYSE: GM) has pledged for the facility this year.
The company said in April it would pump $29.4 million into the facility to make parts for small engines, six-speed transmissions and eight-speed transmissions.
The automaker announced it will invest nearly $1.3 billion in five manufacturing sites in Michigan, Ohio and Indiana to produce new fuel-efficient engines and transmissions, enhance vehicle quality and streamline logistics.
The investments combined will create or retain about 1,000 jobs. Local leaders says it would retain about 40 jobs in Bedford.
UAW Local 440 President Scott Moore and Eric Gonzales, the plant manager, says the announcement bodes well for the future. As work for some products is discontinued or moved, they said, work for the new products will move in.
The investments will allow the Bedford plant to produce parts for a 10-speed automatic transmission that will be produced in Romulus, Mich. and a six-speed transmission being produced in Toledo, Ohio.
According to the GM announcement, the investments include:
* $600 million in the Flint Assembly facility for upgrades, including a new paint shop.
* $493.4 million in Romulus Powertrain Operations. The total includes $343.4 million for equipment to produce the all-new 10-speed automatic transmission and $150 million to increase capacity of a previously announced new V-6 engine.
* $121 million in the Detroit-Hamtramck assembly facility for what the company called a "logistics optimization center."
* $30.6 million in the Toledo transmission facility to increase capacity for an existing 6-speed transmission and tooling for a new variant.
* $29.2 million in Bedford Castings. The total includes $22.6 million to produce components for the 10-speed transmission and $6.6 million to produce components for the existing 6-speed transmission
The company says the 10-speed automatic transmission will contribute to improved fuel economy and performance. Details about this program and the new V6 engine will be announced later.
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