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December 10, 2012 8:00 AM, EST
Obama to Visit Daimler’s Detroit Engine Plant Monday

President Obama is scheduled to visit Daimler AG’s Detroit Diesel Corp. plant in Redford Township, Mich., on Monday, and the company plans to announce it will invest more than $100 million at the facility, the Detroit News reported.

Update: Daimler announces $120 million investment as President Obama visits Detroit plant. 

The announcement will be about “new technology [and] expanded production and jobs,” a Daimler official told the newspaper in a story posted on the Detroit News’ website Monday.

Last year, Daimler said it was rebranding Detroit Diesel Corp.’s engine and powertrain line as “Detroit.”

Detroit Diesel has 2,300 employees and builds four major engines, rear axles and 12-speed transmissions, the Detroit News reported.

The investment will add an unspecified number of new jobs to the 3-million-square-foot plant as it expands beyond diesel engines, the paper said.

Obama also plans to address the urgency of getting a budget deal in the context of ongoing “fiscal cliff” negotiations facing U.S. lawmakers, the News reported.