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Chrysler Investment

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Chrysler Corp. said Monday it will invest $1.2 billion in a new Jeep assembly plant and existing facilities in Toledo, Ohio, ending months of speculation about the future of Jeep production there. Under a deal struck with state and local officials, Chrysler said it will build a new, 1.1 million-square-foot assembly plant adjacent to its existing Stickney Avenue plant on Toledos north side. Construction of the $600 million plant is scheduled to start in 1998, with assembly of Jeep Cherokee and Wrangler sport utility vehicles starting there in 2001. Chrysler will spend another $600 million to refurbish an existing 290,000-square-foot building on the Stickney site.

 

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First Published: Jul 30 1997 | 12:00 AM IST

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