Fenton Plant to Be Revived...

...but not necessarily in Chrysler's hands. According to sources talking to BizJournals, President Obama’s car czar Ed Montgomery will visit Fenton this Thursday to announce a $1.6 million funding for the plant to be made ready for sale.

Known as the St. Louis North Assembly Plant, the facility assembled the Dodge Ram until it was closed in July last year, as a result of Chrysler's reorganization process, together with six other facilities owned by Chrysler. Currently, the facility is up for sale to the highest bidder.

“It’s been awhile since we’ve had good news on the property,” Fenton Mayor Dennis Hancock told the source. "This is the beginning of the next life of the property.”

The funding to be announced by Ed Montgomery is coming from the US Department of Commerce and will also go towards marketing the facility. The City of Fenton will chip in an extra $500,000 to reach the $2.1 million needed for the market analysis.

Old Carco, the owner of the closed facility, hired NAI Desco to market the property, but so far has not decided how much to ask for it. According to Floyd Sweeney, NAI Desco vice president, major manufacturers, both local and foreign, are interested in buying the facility.

“They will evaluate all reasonable offers received,” NAI DESCO principal Daniel Hayes told BizJournals. “They would like to be out as quickly as possible.”
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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