AUBURN HILLS, Mich., Jan. 26, 2017 /PRNewswire/ --
- Payment acknowledges hourly employees' key role in meeting Company objectives
- First phase of industrialization plan moving forward in 2017 with $2.5 billion investment
- Approximately 1,700 new jobs coming to plants in Michigan, Illinois and Ohio
As a result of the Company's strong 2016 financial performance, FCA US LLC announced today that it will make average profit sharing payments of $5,000 to eligible UAW-represented employees. Approximately 40,000 employees will receive the payment on Feb. 17, 2017.
With this payment, FCA US employees have received more than $18,000 in profit sharing since 2009.
FCA US will spend much of 2017 completing the first phase of its industrialization plan, which includes retooling three assembly plants in Michigan, Illinois and Ohio. A total of $2.5 billion will be invested in these facilities to expand the Jeep® and Ram brands and will bring 1,700 new jobs to these communities. These actions are planned to be completed by early 2018.
As negotiated in the 2015 FCA US LLC-UAW Collective Bargaining Agreement, the 2016 profit sharing payment is based on the adjusted EBIT margin performance of the North American region reported in the FCA N.V. financial results and on individual compensated hours.
About FCA US LLC
FCA US LLC is a North American automaker with a new name and a long history. Headquartered in Auburn Hills, Michigan, FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. FCA US designs, engineers, manufactures and sells vehicles under the Chrysler, Jeep, Dodge, Ram and FIAT brands, as well as the SRT performance vehicle designation. The company also distributes the Alfa Romeo 4C model and Mopar products. FCA US is building upon the historic foundations of Chrysler, the innovative American automaker first established by Walter P. Chrysler in 1925; and Fiat, founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli.
FCA, the seventh-largest automaker in the world based on total annual vehicle sales, is an international automotive group. FCA is listed on the New York Stock Exchange under the symbol "FCAU" and on the Mercato Telematico Azionario under the symbol "FCA."
Follow FCA US news and video on:
Company blog: blog.fcanorthamerica.com
Company website: www.fcanorthamerica.com
Media website: media.fcanorthamerica.com
Twitter (Spanish): www.twitter.com/fcausespanol
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SOURCE FCA US LLC