Chrysler offered $24.25M for Delaware plant

Posted on Tuesday, October 27th, 2009 at 2:42 PM EDT.

The University of Delaware has offered to buy Chrysler’s shuttered assembly plant and surrounding land in Newark, Del., for $24.25 million, according to a document filed today in U.S. Bankruptcy Court in New York, the Detroit Free Press reported.

The property includes the assembly plant where the automaker formerly produced its Dodge Durango and Chrysler Aspen SUVs, a parts distribution center and 271 acres of land, the paper said. The plant has carrying costs of $5 million a year, including taxes and maintenance that Chrysler Group LLC is paying under an agreement that expires Oct. 31, the Free Press noted.

Chrysler’s bankruptcy law firm, Jones Day, said in the filing that a better offer is unlikely if the company rejects this one, the paper said. The university is willing to accept whatever environmental liabilities come with the land and building, the story said. (Detroit Free Press)

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