South Korean Tier One Metal Stamper Lands in Tennessee
September 20, 2021Comments
Korean automotive supplier Sungwoo Hitech announced plans to invest $40 million to locate its first U.S. manufacturing operations, Sungwoo Hitech America Corp., in Telford, TN. The firm purchased the former Alo Tennessee building (370,000 sq. ft.), where it expects to create 117 new jobs to produce bumpers, rear components and side framing for General Motors, Hyundai, Kia, Volkswagen and BMW. Production is slated to begin early in 2022.
Sungwoo Hitech employs nearly 18,000 people at 26 facilities worldwide.
"This is our first plant in the United States, but we see this as a stepping stone for future growth," says Sungwoo Hitech America president and CEO Suk Je Lee. "We plan to invest and grow in this region and make a positive impact in the community."
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