COMMISSIONER KISBER, GESTAMP PRESIDENT WILSON ANNOUNCE NEW TENNESSEE INVESTMENT Tier 1 Automotive Supplier Expects to Create 230 Jobs in Chattanooga Matt Kisber, commissioner, Tennessee Department of Economic and Community Development joined leaders of Gestamp Corporation in announcing the company’s plans to invest $90 million to establish a new automotive parts stamping operation at Enterprise South Industrial Park in Chattanooga, Tennessee. The company expects the operation to create at least 230 new jobs within three years. Gestamp has secured a contract to supply structural components for the production of the new mid-sized sedan that Volkswagen has designed specifically for the U.S. market. In addition, Gestamp, a global supplier, provides a wide range of technologies and products for many other automotive companies including Mercedes, Renault-Nissan, PSA Peugeot Citroen, Chrysler, GM, BMW and Toyota among others. The newly established facility will support and extend Gestamp’s ability to supply its broad base of customers. “We’re pleased to be able to continue our strong working relationship with Volkswagen,” said Jeff Wilson, president and chief operating officer for Gestamp Corporation. “I firmly believe the excellent business climate and skilled workforce of Chattanooga and Tennessee will allow us to benefit from the same qualities Volkswagen found and to continue our company’s long term growth.” “I also want to express my sincere appreciation for the support and leadership we’ve received from Commissioner Kisber, Mayor Ramsey, Mayor Littlefield and the Chattanooga Chamber,” Wilson said. “When Volkswagen announced plans to locate in Chattanooga, we celebrated the 2,000 jobs VW would create, but at the same time said additional job creation would follow,” said Commissioner Kisber. “We’re pleased Gestamp North America has followed that announcement with their investment, which will continue the momentum we’re building in Tennessee around the automotive industry.” “We welcome Gestamp as the first ‘tier 1’ auto supplier to follow Volkswagen to Chattanooga,” said Hamilton County Mayor Claude Ramsey. “The Gestamp project is further confirmation of our community’s foresight in developing Enterprise South as a job creation engine for our economy.” “I applaud Gestamp for investing in our economy and creating 230 new, family-wage jobs at a time when our citizens need them the most,” said Chattanooga Mayor Ron Littlefield. “Thanks to Gestamp, we are a step closer to realizing our vision of making Chattanooga an automotive manufacturing hub.” “In recruiting Gestamp, we again demonstrate the effectiveness of a proactive job creation strategy based on public-private partnership,” said Trevor Hamilton, vice president of economic development for the Chattanooga Area Chamber of Commerce. “Despite this challenging economic environment, Chattanooga continues to build momentum as companies like Alstom, Volkswagen, Chattem, Arch Plastics, Dixie Industries, and now Gestamp make sizeable investments that are creating over 2,600 new jobs.” Gestamp Corporation, which is headquartered in Michigan, is a subsidiary of Gestamp Automocion, a privately held company based in Madrid, Spain. Gestamp generates $7 billion in sales each year through manufacturing operations at 75 sites all over the world. Gestamp supplies Volkswagen in various countries in Europe and is presently building new plants in Russia, India and Argentina which will supply Volkswagen. Although Gestamp is not taking applications at this time, job seekers are invited to monitor job postings through the local media and the Tennessee Career Centers. ABOUT THE TENNESSEE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT The Tennessee Department of Economic and Community Development’s mission is to create higher skilled, better paying jobs for all Tennesseans. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. To find out more, go to www.tnecd.gov.