Chrysler LLC will invest more than $27 million in its Toledo Machining Plant in Perrysburg, Ohio. Tom LaSorda, the company's vice chair and president, made the announcement in a speech to the Toledo Regional Chamber of Commerce on January 25. The Toledo plant, which currently builds torque converters and steering columns for the Chrysler, Jeep, and Dodge product lines, will divide the investment into two separate parts: $26.4 million will go toward the manufacture of a redesigned torque converter for automatic transmissions; $1.5 million will be used for the production of a new steering column. Between the two projects, more than 200 existing jobs will be retained. "Chrysler's investments in the Toledo area are rooted in our faith that we can keep good-paying manufacturing jobs in America as long as government, our unions, and our companies all pull together for the common good," says LaSorda.
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