Ammann Announces GM Investment of $240 Million in Argentina
GM President, Dan Ammann, recently announced a GM investment of $240 million in Argentina for a new engine plant. The president made the big announcement alongside GM of South America President, Jaime Ardilla, at a government event, which included Jorge Capitanich, Argentinean Chief of Staff; Chuck Stevens, Executive Vice President and CFO of GM Company; Carlos Zarlenga, Executive Director of Finance of South America; Isela Costantini, President of GM Argentina; Débora Giorgia, Industry Minister; and Nicholas Abbate, Director of Public Affairs and Communications.
The investment of $240 million is not the General’s first big investment in Argentina. In fact, to date, the American automaker has sunk $740 million into the country, including a recent investment of $450 million, which was used to support the production of an all-new global model in the region.
“The expansion of our investment in Argentina is important to the success of our business here,” Ammann said. “The Argentine market is an important market for us and the new engine plant built in Rosario is another example of our commitment to the future growth in the region.”
The new engine plant will manufacture a new Euro six-certified aluminum engine. Reportedly, the plant will be responsible for 90,000 units annually; 10,000 of those will go to the European Union each year.