Local Auto Plants To Get Piece Of GM Money Pie 5-12-2011 - WNEM TV 5

Local Auto Plants To Get Piece Of GM Money Pie 5-12-2011

General Motors will announce a nearly $100 million investment into production plants in Bay City and Flint, according to published reports.
The Detroit Free Press reported GM plans to announce about 80 jobs -- added or retained -- in Flint and Bay City during a news conference Friday morning.
It’s all part of the $2 billion, eight-state investment GM CEO Dan Akerson announced on Tuesday.
Announcements of other plant investments will come over the next several months, the automaker said, as tax and incentive plans are negotiated with city and state governments.
GM won't confirm the details of Friday's announcement, but said it's "positive news" for Flint Engine and Bay City components. Local and state elected officials are also expected to be on hand for the announcement.
NOTE: WNEM TV5 and WNEM.com will air a special report at approximately 9 a.m. when the news is released.
Saginaw will reportedly also see smaller pieces of the GM blitz, with about 50 jobs added or retained.
In Michigan, GM is expected to invest in a total of five plants.
Earlier this month, GM reported a $3.2 billion quarterly profit, the automaker's fifth consecutive quarterly profit and its biggest in 11 years. It marked the first time since 2004 that all three major U.S. automakers were profitable at the same time.
Since the bankruptcy, GM has benefited from the combination of drastic cost reductions and a much improved, and much leaner, product line-up. Before bankruptcy, GM sold eight different brands of cars in the United States. Now it sells just four: Cadillac, Buick, GMC and Chevrolet.
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