Chrysler repaid $7.6 billion in loans to the U.S. and Canadian governments

Article by Christian A., on May 25, 2011

Chrysler Group plant in Toledo, Ohio, will be visited next week by President Barack Obama, according to a White House official. This was reported by the Web site of The Blade newspaper of Toledo. A Chrysler spokeswoman didn’t give further details except to say that Obama will go to one of Chrysler's Toledo-area plants.

A source said that the visit is likely scheduled for Friday. When Chrysler announced its repayment of $5.1 billion in loans to the U.S. Treasury last Tuesday, Obama was in Europe.

Instead, Obama’s manufacturing representative, Ron Bloom, went to Chrysler's Sterling Heights, Mich., assembly plant last Tuesday for the celebration.

With this visit in Toledo, Obama will get the chance to mark the significant event. Chrysler is set to make an announcement of its investment plans for the Toledo Assembly Complex, which comprises two factories. Toledo Supplier Park builds the Jeep Wrangler while Toledo North makes the Jeep Liberty and Dodge Nitro.

Chrysler has yet to reveal what it plans long-term for Toledo. Last January, Chrysler CEO Sergio Marchionne said that it will announce an investment within six months.

Back then, Marchionne said that Chrysler was near to making a decision on what will replace the Liberty and Nitro, which were two of the few vehicles that weren’t revamped in Chrysler's 2011 product campaign. The Toledo North plant only has a single shift. Chrysler’s Toledo Machining Plant operates in nearby Perrysburg.

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