Awhile ago, I wondered outloud about the future of our General Motors Truck Plant. For now, it has been spared.
This story is from the Greater Fort Wayne Business Weekly which has business news every afternoon and morning on one of my radio stations, WGL AM 1250, WGL FM 102.9 and www.1029TheRiver.com.
General Motors Corp., struggling to return to profit after three annual losses, said it will close four plants, introduce new small cars and review whether to shed its Hummer brand of large sport-utility vehicles.
Gasoline prices exceeding $4 a gallon represent "a structural change, not just a cyclical change," Chief Executive Rick Wagoner told reporters today before the Detroit automaker's annual shareholder's meeting in Wilmington, Del.
The four plant closings will save $1 billion and cut North American truck capacity by 700,000 vehicles, Wagoner said.
The Associated Press reported the plants were in: Oshawa, Ontario; Moraine, Ohio; Janesville, Wis.; and Toluca, Mexico.
The closings aren't expected to affect the Fort Wayne Assembly Plant, said spokeswoman Alicia Kocher. It makes GMC Sierra and Chevrolet Silverado pickups. The plant resumed full production in late April after a strike by GM supplier American Axle & Manufacturing Holdings Inc. caused it to temporarily shut down. (read more)
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