By Monica Houston-Waesch
Daimler AG said Wednesday it will invest 1.5 billion euros
($2.01 billion) in the Mercedes-Benz plant located in Sindelfingen,
Germany, to make it more competitive.
The company also said it had reached an agreement with the
plant's labor council to cut costs in the hundreds of millions of
euros. Further, Daimler agreed to produce an additional model at
the plant.
"It was important to us to protect jobs and maintain the
existing wage tariff agreement," the plant's labor council
chairman, Ergun Luemali, said.
The main projects include a new body and paint shop, a new
assembly hall for the new E-Class generation, and a new logistics
center.
Singelfingen is the company's biggest plant producing
Mercedes-Benz cars, Daimler said.
Write to Monica Houston-Waesch at nikki.houston@wsj.com
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