Philly.com has posted a bit more on the upcoming Transformers 2 filming:
Neat twist surrounding the action movie Transformers 2, whose production will be based in Philly for the better part of June. I hear that director Michael Bay and crew also will shoot in Bethlehem, Pa., which will double as a city in the Far East. (A twist in the notion of sending American jobs overseas.)
DreamWorks/Paramount are planning a June 26, 2009 release.
Source: Philly.com