GM to Invest $60 Million in New Equipment at Metal Stamping Plant in Flint, Mich.

PONTIAC, Mich. August 23, 2004; The AP reported that General Motors Corp. said Monday that it is spending $60 million to upgrade its metal fabrication plant in Flint, Mich., where the company is the biggest private employer. The automaker said the money will be spent on blanking systems, weld assembly systems, tools for future products and related equipment. The Flint Metal Center stamps and assembles sheet metal panels for GM trucks and vans as well as making engine cradles. The factory employs about 2,330 people. "The upgrades will allow the plant more flexibility, which puts the site in a better position to secure future business," said GM vice president Jim Wiemels, the general manager of the metal fabricating division.

Richard Shoemaker, a representative for the United Auto Workers Union, said the investment means job security for employees and economic security for many Flint-area businesses. Flint, with almost 125,000 residents, has been plagued by high unemployment and falling tax revenues.

Shares of GM rose