Ram Truck Manufacturing Coming Home to MI

Ram Truck Manufacturing Coming Home to MI

Fiat Chrysler Automobiles will invest $1 billion to modernize its Warren Truck Assembly Plant, adding more than 2,500 new jobs ahead of a planned switch in Ram Heavy Duty truck production to MI from Mexico in 2020.

But economic analysts note that the 2,500 jobs Fiat Chrysler plans to create at the Warren Truck Plant lags the auto manufacturing jobs lost in 2017.

The company is also making a special bonus payment of $2,000 to approximately 60,000 FCA hourly and salaried employees in the USA, excluding senior leadership.

About 80% of the Rams now built in Mexico are shipped to the USA, said Kristin Dziczek, director of the industry, labor and economics group at Ann Arbor's Center for Automotive Research. Jefferies Group analyst P. Houchois now expects that the company will post earnings of $2.60 per share for the year, up from their previous forecast of $2.31. Fiat Chrysler Automobiles NV said yesterday it was recalling more than 162,000 2017 Chrysler Pacifica minivans because a software glitch may cause the vehicles to stall.

About 90 percent of the Ram heavy-duty pickups made at Fiat Chrysler's Saltillo plant in Mexico are sold in the U.S. or Canada, company officials said.

The decision by FCA was hailed by the U.S. Vice President Mike Pence who tweeted that manufacturing is back and is proof the America first policies of the administration are working.

Bernstein Analysts Give Walt Disney (NYSE:DIS) a $100.00 Price Target
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company.

Purchases 1292 Shares of Amazon.com, Inc. (NASDAQ:AMZN)
Schaper Benz & Wise Invest Counsel Wi holds 904 shares. (NASDAQ:AMZN) last issued its earnings results on Thursday, October 26th. As per Friday, August 11, the company rating was maintained by Credit Suisse. (NYSE:MO) on Friday, June 30 with "Sell" rating.

Modi welcomes Israeli PM at start of India trip
Netanyahu said before his departure that he will sign several agreements with his Indian counterpart over the course of the trip. Carmon said 11-year Moshe Holtzberg will also accompany Netanyahu and participate in a function at the Chabad House in Mumbai.

The company will relocate the truck's production from its current location in Saltillo, Mexico, to the MI plant in 2020. The automaker has retooled the nearby Sterling Heights Assembly Plant to handle the all-new 2019 Ram 1500 light-duty version of its full-size pickup.

"Keep in mind, both the Jeep Wagoneer, Grand Wagoneer and now the large Ram's production won't begin until 2020", she said. It also engages in the property investment, sourcing, finance, and IT services businesses. FCA said this was on top of a large investment at the Warren factory announced a year ago.

Fiat Chrysler said is aware of a single potentially related accident.

"It's all taking off here in Macomb County", Hackel said. We are basically Ram county now. "I can't wait to give him a big hug at the auto show".

According to an FCA press release, the automaker has invested $10 billion in us manufacturing operations since June 2009. The $1 billion investment in the Warren plant announced yesterday is in addition to the earlier announced $1 billion. The 2,500 jobs being added to build the Ram HD is in addition to those jobs being added as part of the Jeep announcement a year ago. They support production in the Jeep and Ram lines, and will also help bring three new Jeep models to plants in OH and MI.

Related Articles

  • PW to contest SEBI audit ban

    PW to contest SEBI audit ban

    The Corporate Affairs Ministry (MCA) will examine SEBI's order, Union Minister PP Chaudhary said on January 11. It needs to be seen whether it would benefit the smaller firms or not, he added.
    Japan Urges Safe Return Of Rohingya Refugees

    Japan Urges Safe Return Of Rohingya Refugees

    Since August, military operations have driven more than 650,000 Rohingya into refugee camps across the border in Bangladesh. Tun Aye was one of four Inn Din villagers detained by police on December 15, said Khin Win.

    How Analysts Feel About Spectris plc (LON:SXS)?

    Shares of Babcock International Group PLC with ticker code: LON:BAB has climbed 2.78% or 20 points throughout the session so far. Zambeef Products PLC, together with its subsidiaries, engages in the agri-businesses in Zambia and internationally.
  • Liam Neeson Calls Sexual Harassment Allegations Against Hollywood Men

    Liam Neeson Calls Sexual Harassment Allegations Against Hollywood Men "A Witch Hunt"

    Hollywood has been hit by a wave of sexual harassment and assault allegations following the Harvey Weinstein scandal. In response to Hunter's allegations Hoffman issued a statement saying the incident "is not reflective of who I am".

    Why Investors remained confident on Sprint Corporation (S), Freeport-McMoRan Inc. (FCX)?

    Over the last five days, shares have managed 0.71% gains and now is up 42.55% since hitting its 200-day moving average of $14.73. Icahn Carl C holds 5.1% in Freeport-McMoRan Inc. (NYSE:FCX) earned "Hold" rating by BMO Capital Markets on Monday, August 28.

    Cowen Reaffirms Buy Rating for Pepsico (PEP)

    It improved, as 13 investors sold HSC shares while 71 reduced holdings. 104 funds opened positions while 328 raised stakes. The firm has a market capitalization of $166,930.00, a P/E ratio of 24.25, a P/E/G ratio of 3.02 and a beta of 0.68.
  • White House corrects DACA meeting transcript

    White House corrects DACA meeting transcript

    The truth is, the wall has become a shiny object that distracts partisans from what they claim to want in the immigration debate. Trump made striking a compromise hard by arbitrarily giving Congress six months from September of 2017 to make DACA permanent.
    Macquarie Upgrades Netflix (NASDAQ:NFLX) to

    Macquarie Upgrades Netflix (NASDAQ:NFLX) to "Outperform"

    Comparing the number of shares sold short over time is a method analysts often use to get a reading on investor sentiment. Aviance Capital Management LLC acquired a new position in Netflix during the 2nd quarter worth approximately $137,000.

    Sheeran, Dua Lipa in Brit nominations

    Ed Sheeran, pictured here performing at Glastonbury Festival, has been nominated for four Brit Awards. Dua Lipa - who leads the field with five nods - posted on Twitter: "5 BRIT NOMINATIONS! ".
  • Seatown Holdings Pte. Ltd. Cuts Holdings in Amazon.com, Inc

    Seatown Holdings Pte. Ltd. Cuts Holdings in Amazon.com, Inc

    Courage Miller Prtnrs Limited Liability, Virginia-based fund reported 373 shares. 18,014 are owned by Jarislowsky Fraser Limited. Keefe Bruyette & Woods maintained Wells Fargo & Company (NYSE:WFC) on Tuesday, December 12 with "Buy" rating.
    Trump Blames Democrats for Stalled Immigration Negotiations Amid Backlash for 'Shithole' Comments

    Trump Blames Democrats for Stalled Immigration Negotiations Amid Backlash for 'Shithole' Comments

    It was unclear why the four Republicans were there, and the session did not produce the results the two senators were hoping for. Republican lawmakers who were in the Thursday meeting generally sidestepped questions about precisely what Trump said.

    CVS Health Corp (CVS) Given Average Recommendation of "Buy" by Brokerages

    Piermont Capital Mgmt holds 0.3% or 18,220 shares in its portfolio. (NYSE:PVG). 1832 Asset Mngmt Lp reported 850,000 shares stake. WARNING: " Vetr Downgrades CVS Health (NYSE: CVS ) to Hold" was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal.