Released on Tuesday, June 19, 2007

Chrysler Corp.’s Kokomo Casting and Kokomo Transmission, Kokomo, Ind., will see increased demand with the construction of a new transmission plant located in Tipton County, Ind., according to a company press release.

The new plant will be the result of a newly-established joint venture between Chrysler Group, Auburn Hills, Mich., and Getrag Corporate Group, Untergruppenbach, Germany, to produce dual clutch transmissions.

The plant will produce 700,000 transmissions annually, and the 230 employees at Kokomo Casting and Kokomo Transmission will be dedicated to producing parts for the plant. Construction of the 804,000 square-foot facility is scheduled to begin June 27, 2007, with production starting in 2009.

According to Richard Chow-Wah, vice president of powertrain manufacturing for Chrysler Group, the new manufacturing plant will require a $530 million investment, part of the company’s $3 billion “Powertrain Offensive” plan.

“We appreciate the support that has been offered by state and local officials to help bring this investment to Indiana,” Chow-Wah said. "Together with our new partner Getrag, our combined $530 million investment in Tipton will create a state-of-the art facility to manufacture fuel-efficient, dual-clutch transmissions."