Friday, June 1, 2007

Chrysler to invest $570 mln in Mexico engine plant

MEXICO CITY, June 1 (Reuters) - Auto maker Chrysler Group, which is being sold by parent DaimlerChrysler AG (DCXGn.DE: Quote, Profile, Research, plans to invest $570 million in a new engine plant in the northern Mexican city of Saltillo, the company said on Friday.

Production will begin in 2009 on a new family of Chrysler V-6 engines known as Phoenix engines.

This is the second V-6 plant to be announced by the company and once operating will employ 485 workers. The other engine plant will be located in Trenton, Michigan.

Chrysler's Saltillo plant is part of a wider $3 billion recovery and transformation plan, the company said.

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