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Rivian Automotive to acquire shuttered Normal, Illinois plant: mayor
Source: Reuters
U.S. | Fri Dec 9, 2016 | 11:50am EST
Rivian Automotive to acquire shuttered Illinois plant: mayor
By Bernie Woodall and Paul Lienert
Suburban Detroit-based Rivian Automotive is buying the former Mitsubishi Motors plant in Normal, Illinois, and plans to reopen it in about five years, the city's mayor said on Friday.
Mayor Chris Koos told Reuters that Rivian would employ about 500 people at the factory when it reopens in 2021 and eventually will have about 1,000 workers. It has been closed since May.
He said he did not know the purchase price of the transaction, which is to close on Jan. 3.
Rivian could not be reached for comment on Friday morning, but the company's voicemail recording said it was an automotive technology company that develops products for the industry's shift toward "sustainable mobility."
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Koos said liquidation service Maynards Industries bought the plant from Mitsubishi and was planning to auction off its equipment in September and then raze the building. Those plans changed when Rivian put up $1 million in "earnest money" on a potential purchase, he said.
[font size=1]-snip-[/font]
Rivian Automotive to acquire shuttered Illinois plant: mayor
By Bernie Woodall and Paul Lienert
Suburban Detroit-based Rivian Automotive is buying the former Mitsubishi Motors plant in Normal, Illinois, and plans to reopen it in about five years, the city's mayor said on Friday.
Mayor Chris Koos told Reuters that Rivian would employ about 500 people at the factory when it reopens in 2021 and eventually will have about 1,000 workers. It has been closed since May.
He said he did not know the purchase price of the transaction, which is to close on Jan. 3.
Rivian could not be reached for comment on Friday morning, but the company's voicemail recording said it was an automotive technology company that develops products for the industry's shift toward "sustainable mobility."
[font size=1]-snip-[/font]
Koos said liquidation service Maynards Industries bought the plant from Mitsubishi and was planning to auction off its equipment in September and then raze the building. Those plans changed when Rivian put up $1 million in "earnest money" on a potential purchase, he said.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/us-autos-rivian-mitsubishimotors-idUSKBN13Y1SZ