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The current Chrysler Group LLC has reached an agreement with the “Old Carco” to buy the Sterling Heights assembly plant, where the Dodge Avenger and Chrysler Sebring are made. The selling price is $20 million, at the high end of estimates of the plant’s worth, with the sellers likely taking advantage of Chrysler’s need for [...]
Chrysler Group received a two-week extension from the city of Sterling Heights to complete a purchase of the Sterling Heights Assembly Plant (SHAP) from Old CarCo. The automaker had been given a deadline of February 16 to complete the purchase and qualify for $8.2 million in tax abatements but requested the extra time due to [...]
Chrysler Group is asking the city of Sterling Heights for another extension of the deadline for the purchase of the Sterling Heights Assembly Plant. At stake are millions of dollars in tax abatements the company hopes to preserve. The Sterling Heights City Council is willing to continue the tax breaks but only if Chrysler Group [...]
Sources claim that Chrysler is negotiating with Old CarCo and the U.S. Bankruptcy Court to buy the Sterling Heights Assembly Plant. The move would save some 1,200 jobs that would otherwise have been eliminated at the end of this year. Sterling Heights was one of the facilities left behind when the reorganized Chrysler Group LLC [...]