Daimler: $120M investment in Redford plant

REDFORD, Mich., Dec. 10 (UPI) -- While at a Michigan auto plant touting his plan to avoid the fiscal cliff, President Obama gave a shout-out to Daimler Trucks for a new investment in the plant.

Daimler Monday announced it was investing $120 million in the Daimler Detroit Diesel plant in Redford, Mich., that will create "115 good, new union jobs building transmissions and turbochargers right here in Redford," Obama said.

"That is great for the plant and it's great for this community," Obama said to loud applause and cheers.

With the investment, Daimler Trucks North America is the only manufacturer in the North America Free Trade Agreement Region with a fully integrated powertrain from its own production, the company said in a release.

The plant already turns out engines and axles. With the investment, the plant soon will be building all the key parts that go into a truck, Obama said.

"No one else is doing that," he said.

"A fully integrated powertrain from a single source is a decisive competitive advantage," said Martin Daum, president and chief executive officer of Daimler Trucks North America. "That is why we decided in favor of the Redford location where our employees work hand in hand in one location."