Gestamp will invest $94.7 million to expand operations at its Hickory Valley Road and Ferdinand Piech Way plants, as part of its third expansion in the past ten years in Chattanooga, Tennessee. The project will create 260 new jobs in Hamilton County over the next five years.
As part of this expansion, the company plans to add to both facilities for increased capacity due to new electric vehicle production. In addition, both plants will undergo retrofitting, weld assembly and robotics updates.
“Gestamp is proud of continuing to grow our operations in Chattanooga with a third expansion that will enable us to better serve our customers in the US Region and further create jobs to live up to our commitment to the Tennessean workforce development. This investment in state-of-the-art manufacturing technology and skilled talent means even more as it happens despite the pandemic impact on our economy. We would like to thank, once more, the Tennessee Department of Economic and Community Development, Hamilton County and the City of Chattanooga for their consistent support to Gestamp in Chattanooga,” John Petroni, Gestamp US President noted.
“Tennessee is known as a global leader in automotive manufacturing, and it is because of companies like Gestamp that our state’s automotive industry continues to grow and excel. Gestamp's third expansion in ten years shows their commitment to Chattanooga and confidence in Tennessee’s skilled workforce,” said Governor Bill Lee.
Gestamp provides structural metal stampings and welded assemblies to automotive original equipment manufacturers.
“We congratulate Gestamp on its third expansion in Chattanooga over the past ten years. Tennessee is home to more than 900 automotive suppliers that support a number of global automakers including our state’s three OEMs. We appreciate Gestamp for its continued commitment to Tennessee and the 260 new jobs that will be created as a result of this project,” said TNECD Commissioner Bob Rolfe.
“I could not be happier to learn of yet another Gestamp expansion! Gestamp is an important supplier to the southeast automotive industry and the fact they have chosen Enterprise South as their expansion focus is an important decision that has a significant impact on local families and business. The impact of their good family wage jobs ripples throughout this community as does their interaction with local education providing their next generation of workers,” said Hamilton County Mayor Jim Coppinger.