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Last updated: June 25, 2009 10:40 a.m.

Automotive supplier following VW to Chattanooga

The Associated Press | Associated Press

CHATTANOOGA, Tenn. – Automotive supplier Gestamp Corp., will locate a new automotive parts stamping operation in Chattanooga and create at least 230 jobs at the site where Volkswagen is building an assembly plant.

Tennessee economic development chief Matt Kisber announced the $90 million project Thursday. He said the company expects to create at least 230 jobs within three years at Enterprise South Industrial Park.

Gestamp has secured a contract to supply structural components for Volkswagen's new mid-sized sedan.

The company is a global supplier and provides a wide range of technologies and products for many other automotive companies. Gestamp also has an operation at McCalla, Ala.

With headquarters in Troy, Mich., Gestamp is a subsidiary of Gestamp Automocion, a privately held company based in Madrid, Spain.

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