U.S. Markets closed

GM to invest nearly $30M in Bedford, Ind., plant

BEDFORD, Ind. (AP) -- General Motors Co. says it plans to invest nearly $30 million for the production of two new engines and other auto parts at its Bedford Castings plant in southern Indiana.

GM said Thursday the Bedford plant will receive $19 million to produce components for a small gas engine and $10.4 million to produce components for a new 8-speed and existing 6-speed transmissions.

The money is part of a $332 million investment GM plans to make at four plants in Indiana, Ohio and Michigan. The money will finance production of new, small V-6 engines and more fuel efficient eight-speed transmissions.

Company officials say the investment will help preserve 1,650 jobs at the four plants.