GM to invest $500 million in Toledo plant

DETROIT, Feb 27, 2006; Reuters reported that General Motors Corp. said it will invest $500 million in its Toledo, Ohio, transmission plant to produce a new type of automatic transmission for full-size trucks and sport utility vehicles.

The world's largest automaker also said it will invest an additional $100 million in vendor tooling, containers and investments at other locations.

Construction will begin in July and production of the transmission will start in late 2008, GM said.