PARMA, Ohio — The General Motors metal stamping operation in Parma is about to get a big financial boost as the company announced Thursday it plans to invest more than $46 million in that location.

“This investment will be used for equipment upgrades and to prepare the facility to support future product programs,” the company said in a press release. “Parma produces sheet metal stampings and assemblies for multiple GM product programs.”

GM says renovations will begin immediately at the facility.

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“Our Parma operation is a longtime leader in metal stamping capabilities and this investment reflects our confidence in the employees at Parma," said Phil Kienle, GM vice president of North America Manufacturing and Labor Relations. "This investment will help the Parma team continue producing high quality, sheet metal stampings for a variety of future GM products."

GM said the investment will “also help provide job security for the Parma workforce.”

The plant, which opened in 1948, process more than 800 tons of steel per day and services or supports the majority of GM’s vehicles produced in North America. The company says the Parma location employs approximately 1,000 people.

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