GM Investing $73M In Louisiana Assembly Plant
Tue, 10/30/2007 - 10:11am
SHREVEPORT, La. (AP) — General Motors Corp. will invest about $73 million at its Shreveport assembly plant to produce its Hummer pickup truck, the auto giant announced Tuesday.
The plant, which has about 2,100 employees, currently produces the Hummer H3 and Chevrolet Colorado and GMC Canyon pickup trucks. Its next product, the Hummer H3T, is scheduled to arrive at dealerships by the third quarter of 2008.
''GM's $73 million investment in Shreveport is further proof that the community remains an important part of GM's manufacturing plan,'' said Troy Clarke, GM North America president.
The United Auto Workers voiced support for the project.
''This investment is a testament to the members of UAW Local 2166 for their hard work and commitment to build high quality products,'' Rapson said. ''UAW members at the Shreveport plant are an important part of the team that is bringing this exciting new GM vehicle to the market.''
Over the past two years, the work force at the plant has dropped from about 3,000 as GM, struggling through bad financial times, offered workers buyouts. GM ran its string of profitable quarters to three when it announced second-quarter net income for 2007 of $891 million.
GM would not say Tuesday whether the project would increase the plant's payroll.
Earlier this year, the Legislature, at the urging of Gov. Kathleen Blanco, passed a law speeding up the enactment of tax breaks passed in 2004 to benefit GM and, hopefully, to lure other auto manufacturers to the state.
''I am delighted that GM has once again chosen to increase investments in Louisiana by expanding operations in Shreveport,'' Blanco said in a statement.
Over the past few years, GM has spent about $1.5 billion on the Shreveport plant, which currently has an annual payroll of $160 million.