August 13, 2014 / 3:05 PM / 3 years ago

GM to build $174 million Cadillac stamping plant in Michigan

DETROIT (Reuters) - General Motors Co will start construction this fall on a $174 million stamping plant in Lansing, Michigan, that will make components for the nearby Lansing Grand River assembly plant, the company said on Wednesday.

The plant, which will stamp steel into auto components like hoods and door panels, will create or retain about 145 jobs.

It will produce components for Cadillac ATS and Cadillac CTS vehicles and a future product the company has not yet announced.

The ATS and CTS are built at the Lansing Grand River assembly plant.

The new plant will begin operating in 2016. With the stamping plant being in the same complex as the assembly plant, GM will be able to save $14 million a year in logistics costs, the company said.

Built in 2001, Lansing Grand River is GM’s second newest U.S. assembly plant.

Reporting by Bernie Woodall; Editing by Jeffrey Benkoe

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