Spanish automotive supplier Gestamp, which already has a facility in Chattanooga, is planning to open a new pressing plant to service Volkswagen's upcoming midsize sport utility vehicle, according to multiple sources.
The company, which has a stamping facility on Hickory Valley Road, would create 500 jobs, The Wall Street Journal reported today.
U.S. Sen. Bob Corker, Tennessee Gov. Bill Haslam along with VW plant officials and others are slated to take part in a announcement Tuesday.
VW is undertaking a $900 million expansion and adding 2,000 jobs at the plant to make the SUV that is slated for production late next year.
The company and Chattanooga officials are trying to woo more suppliers to area, and believe that a new engineering and planning center related to its expansion will help do that.