Chrysler to buy the Sterling Heights assembly

Chrysler to buy the Sterling Heights assemblyChrysler has announced that it would buy the Sterling Heights assembly plant for $20 million from the old Chrysler bankruptcy estate. If the U. S bankruptcy Judge Arthur Gonzalez approves the sale, it would be good news for
1,219 workers who had earlier seen their jobs on risk when the plant was supposed to be shut at the end of this year.

Even after the city extends $7.4 million in property tax abatements to Chrysler, the Sterling City would continue to receive $2.6 million annually from its largest taxpayer.

City manager Vanderpool felt that it was a great day for Sterling Heights as it had preserved its tax base and thus has positioned them better for future investments. In last June when tax-payer restructuring took affects the Sterling Heights plant was one of the 7 factories that was supposed to be shut down.

Chrysler now plans to rename the plant and plans an exterior and interior makeover of the Chrysler Sebrig.