BREAKING: Indy GM plant may close or be sold

	Monday, October 1, 2007 6:54 AM
	BREAKING: Indy GM plant may close or be sold Associated Press and IBJ staff General Motors Corp.'s stamping plant in Indianapolis would be allowed to close or be sold under the tentative contract with the United Auto Workers, according to a detailed copy of the agreement. According to the detailed document, called the "white book," work at the Indianapolis stamping operation will continue or be reallocated to another GM plant "until such time as the plant can be sold to an outside buyer." GM will study keeping the plant, but if it is not sold or kept, it will be closed "no sooner than December 2011," the document said. GM employs 850 at the plant at 340 S. White River Parkway, just south of White River State Park downtown. A closure or sale would mean an exit from Indianapolis by the automaking giant. Last month, GM sold its Allison Transmission unit in Indianapolis to Carlyle Group, based in Washington, D.C., and Onex, of Toronto, for $5.6 billion. Allison employs 3,400 in Indianapolis. In Indiana, General Motors also has a stamping operation in Marion, where 1,265 are employed, a pickup truck assembly plant in Fort Wayne with 2,940 workers, and a foundry in Bedford with 526 employees. The UAW has said that overall the tentative agreement helps protect jobs for its members. Under the deal, the automaker made commitments for new products at 16 plants. About 74,000 hourly GM workers will vote on the pact starting this week, with a final tally to be done by Oct. 10. For more on this story, go to www.ibj.com.
	Unsubscribe | Update Profile | Manage Subscriptions We respect your right to privacy - click here to view our policy. Copyright © IBJ Media Corp. 2007. All Rights Reserved. Privacy Policy Reproduction or use without permission of editorial or graphic content in any manner is strictly prohibited. Reprint orders: To request reprint permission contact IBJ's managing editor. Phone: 317-634-6200 - E-mail: managingeditor@ibj.com This email was sent by: IBJ Corporation 41 East Washington Street, Suite 200 Indianapolis, IN, 46204-3592, United States of America