GM to invest $30 million in Pontiac Stamping plant

PONTIAC (AP) -- General Motors will invest more than $30 million to beef up the capabilities of a manufacturing plant in Pontiac. The investment will result in the retention of 290 jobs at Pontiac Stamping, the automaker said Wednesday. The plant opened in 1932 and provides parts to support several GM products, including the Chevrolet Sonic and Buick Verano, which are launching later this year. GM's investment will go toward equipment to upgrade three conventional press lines already operating at the plant. The automaker also plans to install two additional presses at the facility as part of the company's stamping consolidation project. The plant upgrades will position Pontiac Stamping as a regional center supporting many plants, GM said. Orion Assembly is the plant's primary customer. GM shares added 46 cents to $31.56 in afternoon trading. Published: Fri, Apr 1, 2011