Now that the court documents have officially been filed, details regarding Chrysler's ongoing plans to stay in business are becoming a bit less muddy. Two corporations will be created from the dying automaker: a so-called "OldCo" with unwanted bits and liabilities that seem likely to die a slow and painful death through the automaker's Chapter 11 filing, and a "NewCo" that contains the best that the ailing automaker has to offer.
The Detroit Free Press is reporting the Chrysler LLC will close four of its assembly plants from February 9-13 due to "economic conditions". The four plants to be idled are in Brampton, Ontario; Sterling Heights, MI.; Belvidere, IL and Detroit. The Brampton plant builds the Chrysler 300, Dodge Charger and Dodge Challenger, while Sterling Heights Assembly handles the Dodge Avenger and Chrysler Sebring. The plant in Belvidere builds the Dodge Caliber, Jeep Compass and Patriot, and the Detroit plan
Imaginary soundbite never uttered: "This is going well, all this money we're not spending..." And so it is that the plant shutdowns announced in December will be extended for an extra week. Instead of reopening on January 19th, workers at the Belvidere and Sterling Heights plants; as well as Toluca, Mexico; will return on January 26th. The GEMA engine facility in Trenton, MI has also had its hiatus extended.