GM spending $44M to expand engine-building capacity at Kentucky Corvette plant

BOWLING GREEN, Ky. -- General Motors says it will spend $44 million to increase engine-building capacity at the Kentucky plant that makes Corvette sports cars.

See Full Article

The automaker said Wednesday that it will add 36 jobs as part of the investment to expand capacity in the Performance Build Center at the Bowling Green Assembly plant. It says construction and tool rearrangement is scheduled to start next month.

GM says the increased capacity is fueled by the success of the Corvette Z06, which accounts for nearly one-third of all Corvettes produced at the plant in south-central Kentucky.

Plant manager Kai Spande says GM has committed $483 million to the Bowling Green plant this year.

In May, the company said it was spending $439 million for a new paint shop and facility upgrades.



Advertisements

Latest Economic News

  • Reports say oil and gas methane emissions higher than previously thought

    Economic CTV News
    CALGARY -- Two new reports from environmental groups say methane emissions in Canada's oil and gas sector are higher than previously thought as debate continues on how urgently they need to be reduced. The David Suzuki Foundation partnered with St. Source
  • Shaw TV stations to close in Vancouver, Calgary and Edmonton as funds diverted to Global

    Economic CBC News
    Shaw television stations in Calgary, Edmonton and Vancouver will be shut down this summer, affecting about 70 jobs, as the company redirects funds to Global News instead. Corus Entertainment and Shaw Communications announced the move Wednesday, saying it would reduce "duplication of coverage. Source
  • Kit and Ace lays off some head office staff, closes international stores

    Economic CTV News
    TORONTO -- Kit and Ace, the clothing company started by the family of Lululemon founder Chip Wilson, is laying off a number of its head office staff and closing stores in three countries. In a statement, Hold It All Inc. Source
  • Bell set to introduce new streaming product for internet TV viewing

    Economic CTV News
    MONTREAL -- Bell Canada says it's on the cusp of launching a new streaming product to attract customers who prefer to watch video such as Netflix through the internet instead of traditional TV services. Chief executive George Cope said the Montreal-based company will announce its plans in the next four to six weeks as it combats the trend of customers cutting or reducing their television connections. Source
  • White House wants people to know Trump contemplating NAFTA pullout

    Economic CTV News
    WASHINGTON - The White House is telling U.S. media that it's weighing a plan to pull out of NAFTA. A number of media outlets are reporting that President Donald Trump is considering an executive order to withdraw from the trade agreement with Canada and Mexico. Source
  • CMHC maintains red alert on Canadian housing, but notes signs of improvement

    Economic CBC News
    Canada's housing agency says while there are some signs of improvement, the national real estate market is still displaying 'problematic conditions' as a whole. Canada Mortgage and Housing Corporation said in its quarterly housing forecast on Tuesday that the national housing market is still showing "strong evidence of problematic conditions," the same state it was in back in January when the agency put out its last report on the matter. Source
  • BCE lowers benchmark earnings estimate for 2017 following MTS takeover

    Economic CBC News
    The parent of Bell Canada has lowered its benchmark earnings estimate for this year in revised guidance issued on Wednesday ahead of the company's annual shareholders meeting. BCE Inc. is now estimating its full-year adjusted earnings per share will be no higher than $3.40 per share, which is below the low end of its previous estimate issued in February. Source
  • Tim Hortons parent's stock falls after store sales growth stalls in Q1

    Economic CTV News
    TORONTO -- Restaurant Brands International Inc. shares fell sharply Wednesday morning after the company reported flat first-quarter sales at its established Tim Hortons and Burger King stores. RBI shares (TSX:QSR) fell 4.37 per cent or $3.47 to $75.88 in mid-morning trading on the Toronto Stock Exchange, rivalling a four-day decline in February that cut $3.43 from the stock's value. Source
  • Twitter sees first revenue drop since IPO

    Economic CBC News
    You'd think Twitter would be able to milk its status as President Donald Trump's megaphone. But the company still faces stagnant user growth, has never made a profit and even reported a quarterly revenue decline Wednesday, a first since going public. Source
  • Investors punish Home Capital shares after company announces $2B credit line

    Economic CBC News
    Shares in alternative lender Home Capital traded down than 57 per cent on Wednesday after the company said the terms of a new $2-billion line of credit it is arranging will leave it unable to achieve its financial targets. Source