South Korean injection molder, Taisung Precision Co. Ltd., will build its first plant in the United States - and its first plant to produce automotive parts - and the new plant will be located in Shorter, Alabama.
The Alabama Department of Commerce issued a press release on December 6 that the new plant, which costs US$6.6 million and covers an area of ​​40,000 square feet, will employ 70 employees in its initial phase of operation.
Taesung, headquartered in Gimhae, South Korea, has factories in South Korea, Poland, Russia and Mexico to produce parts for consumer goods. Its customers include LG Electronics, Whirlpool and Electrolux. The Shorter plant enabled the company to be close to Hyundai Motor's assembly plant in Montgomery, Alabama, to facilitate the opening up of the automotive industry's supply base.
State government officials stated that in addition to producing molded parts, Taesung will also begin to provide design services for automotive customers.
The plant is expected to be fully operational by the end of 2015, and the annual payroll will be $2.8 million. Officials in Alabama stated that they expect Taesung to expand the plant in the future, but the company did not disclose any detailed plans.
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