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General Motors plans to invest more than $46 million at its suburban Cleveland metal stamping plant to upgrade the factory's equipment and prepare it for future products, the automaker announced Thursday.
The plant in Parma produces sheet metal stampings and assemblies for multiple GM product programs. The renovation work will begin immediately at the facility.
"Our Parma operation is a longtime leader in metal stamping capabilities, and this investment reflects our confidence in the employees at Parma," said Phil Kienle, GM vice president of North America Manufacturing and Labor Relations. "This investment will help the Parma team continue producing high quality, sheet metal stampings for a variety of future GM products."
The plant, which opened in 1948, processes more than 800 tons of steel per day and services or supports the majority of General Motors North America produced vehicles. It is capable of producing up to 100 million parts per year.
Parma employs about 1,000 people. Hourly employees are represented by United Auto Workers Local 1005.
In Lordstown, GM and its joint venture partner, South Korea's LG Energy Solution, are investing $2.3 billion to build a next-gen electric-vehicle battery-cell facility. It will employ about 1,000 people at full capacity and mass produce battery cells for several of GMs electric vehicles.
The automaker in 2019 closed its assembly complex in Lordstown, ending 53 years of GM automaking in the Mahoning Valley. It went on to in the same year sell the plant to electric vehicle startup Lordstown Motors Corp., which is now in talks with Taiwanese tech giant Foxconn to purchase the 6.2 million-square-foot plant.