| Chrysler Group broke ground recently at the | | | | |
| future site of the Marysville Axle Plant its | | | | The investment on the Marysville Axle Plant |
| Marysville, Mich. Present at the ground | | | | will in include engineering and development |
| breaking were Chrysler Group executives | | | | costs. It can be noted that the Auburn |
| joined by UAW officials with state and local | | | | Hills-based Chrysler Group has already |
| dignitaries to celebrate the $700 million | | | | invested $4.4 billion for its Southeast |
| Michigan investment. | | | | Michigan manufacturing operations since 2003. |
| | | | |
| The plant was considered a sign that the | | | | About Chrysler Group |
| Chrysler Group is taking to reach its | | | | |
| recovery and transformation plan which | | | | Soon to become Chrysler Holding LLC is an |
| hopefully when realized will help the company | | | | American automobile manufacturer that has |
| to regain financial health by 2008. The axle | | | | been independently manufacturing automobiles |
| plant is just one part of the Company's | | | | way back in the year 1925. |
| "Powertrain Offensive" which is a $3 billion | | | | |
| investment to produce more fuel-efficient | | | | Last May 14, 2007 DaimlerChrysler AG |
| engines, axles, and transmissions for the | | | | announced the sale of 80.1 percent of |
| Chrysler Group. | | | | Chrysler to an American equity firm, Cerberus |
| | | | Capital Management, L.P. Once the deal is |
| Construction on the new plant will start this | | | | completed Chrysler will then take on the name |
| summer and will employ 900 people when it | | | | Chrysler Holding LLC. |
| reaches full volume in 2010 and expected to | | | | |
| produce 1.2 million axles annually. Gary Orr, | | | | Chrysler and its subsidiaries were part of |
| Mayor of Marysville, Mich., said, "We came | | | | the German based DaimlerChrysler AG. The |
| together as several separate entities to | | | | merger was dubbed as a "Merger of Equals" |
| formulate the requirements necessary to | | | | with Daimler-Benz in 1998. Before the |
| attract Chrysler Group to a project site for | | | | acquisition in 1998, Chrysler Corporation |
| their new axle plant. For that we are so very | | | | traded under the "C" symbol on the NYSE. |
| grateful. As a City Council, we are excited | | | | Another popular term for all Chrysler cars is |
| and as Mayor of record I am extremely proud, | | | | Mopar which is the name for its parts |
| as an administrative team, we stand ready to | | | | operation which includes the production of |
| support the successful future of this great | | | | high quality Dodge Caravan parts. |
| automotive giant." | | | | |