South Korean molder building Alabama plant

By Rhoda Miel
News Editor

Published: December 10, 2013 3:58 pm ET
Updated: December 10, 2013 3:59 pm ET

Related to this story

Topics Automotive, Injection Molding

South Korean injection molder Taesung Precision Co. Ltd. will build its first U.S. plant — and first site that makes auto parts — in Shorter, Ala.

The $6.6 million, 40,000-square-foot plant will employ 70 people during its initial phase of operations, the Alabama Department of Commerce said in a Dec. 6 news release.

Taesung, based in Gimhae, has plants in South Korea, Poland, Russia and Mexico making parts for consumer products, with customers including brand names from LG Electronics, Whirlpool and Electrolux. The site in Shorter puts it close to Hyundai Motor Co.’s assembly plant in Montgomery, Ala., for its entry to the auto industry supply base.

In addition to producing molded parts, Taesung will have design operations for its auto customers, state officials said.

The plant should be fully operational by the end of 2015 with an annual payroll of $2.8 million. Alabama officials said they expect Taesung will expand at the site, although the company did not disclose any specific plans.


Comments

South Korean molder building Alabama plant

By Rhoda Miel
News Editor

Published: December 10, 2013 3:58 pm ET
Updated: December 10, 2013 3:59 pm ET

Post Your Comments


Back to story


More stories

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Image

Falcon Plastics expands in South Dakota

January 29, 2015 11:45 am ET

Falcon Plastics Inc. is putting the final touches on a 60,000 square foot addition that will nearly double the size of its Brookings, S.D.,...    More

Image

Plastics News Now: Losing weight with style, plastics in the Dragons' Den

January 29, 2015 6:00 am ET

A 19-year-old entrepreneur brings business to a U.K. injection molder after winning support on TV's Dragons' Den, auto suppliers combine...    More

Image

African equity fund invests in Kenya's General Plastics

January 28, 2015 4:24 pm ET

An African investment fund specializing in agriculture has invested in Kenyan packaging firm General Plastics Ltd. to provide funds to expand in the...    More

Image

Plastics help Volt hit new target

January 28, 2015 1:54 pm ET

The 2016 Volt, unveiled at the North American International Auto Show in Detroit in January, features a sportier exterior design — GM calls it &...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events