Tier 1 Auto Supplier Expects to Create 230 New Jobs

CHATTANOOGA, TN., June 25, 2009 — Gestamp Corporation has announced plans to invest $90 million to establish a new automotive parts stamping operation at Enterprise South Industrial Park in Chattanooga, Tennessee. The company expects the operation to create at least 230 new jobs within three years.

Gestamp has secured a contract to supply structural components for the production of the new mid-sized sedan that Volkswagen has designed specifically for the U.S. market. In addition, Gestamp, a global supplier, provides a wide range of technologies and products for many other automotive companies including Mercedes, Renault-Nissan, PSA Peugeot Citroen, Chrysler, GM, BMW and Toyota, among others. The newly established facility will support and extend Gestamp’s ability to supply its broad base of customers.
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