Staff Photo by John Rawlston
Jeff Wilson, right, president and chief operating officer for Gestamp Corporation, announces plans to invest $90 million to establish a new automotive parts stamping operation at Enterprise South Industrial Park to supply structural components for Volkswagen during a news conference at the Chattanooga Chamber of Commerce on Thursday morning. Sitting next to him are, from left, Hamilton County Mayor Claude Ramsey and Commissioner Matt Kisber from Tennessee Governor Phil Bredesen's office.

Gestamp Corp. plans to build a $90 million automotive parts stamping operation at Enterprise South Industrial Park, creating at least 230 new jobs within three years.

The company has a contract to supply structural components for production of Volkswagen’s new mid-sized sedan. The $1 billion VW auto assembly plant is scheduled to begin production in 2011.

Gestamp also provides technologies and products for other automotive companies and its new facility will support the company’s ability to supply other customers.

Gestamp is a subsidiary of a firm based in Madrid, Spain, but has its U.S. headquarters in Michigan.

See tomorrow’s Chattanooga Times Free Press for complete coverage.