Steel Markets
GM Investing $491 Million In Indiana Plant for EV Parts
Written by Becca Moczygemba
September 18, 2022
General Motors is sprucing things up. The Detroit-based automaker announced on Sept. 15 that it will invest $491 million into its Marion, Ind., metal stamping facility to prepare for the production of various steel and aluminum parts to be used in electric vehicles (EVs).
The expenditure will go towards two new press lines, complete press and die upgrades, facility renovations, and a 6,000-square-foot addition. Improvements are expected to commence late in 2022.
Gerald Johnson, executive vice president of global manufacturing and sustainability, expressed GM’s dedication to its people by reinvesting in the facilities they work in. “This investment is another example of the company bringing everyone along and investing in the people who make manufacturing a competitive advantage for GM,” he stated in a press release.
GM’s Marion Metal Center opened its doors in 1956 and currently employs more than 750 workers. The plant expects to maintain employment through the updating process.
“The new stamping presses, upgrades and renovations associated with the investment will create job security for our members and help them care for their families and support their local community for years to come,” remarked Ray Curry, UAW Local 977 president and director of the General Motors and Gaming departments.
Excitement also comes from Indiana Gov. Eric J.Holcomb. “It’s exactly because of investments like GM’s in advanced technology and future-focused solutions that will ensure Indiana will continue to be a leader in tomorrow’s manufacturing, making the products that power and redefine mobility the world over,” said Holcomb.
By Becca Moczygemba, Becca@SteelMarketUpdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Steel Markets
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).