Composite maker Hanwha Azdel expanding in Virginia

By Rhoda Miel
News Editor

Published: January 17, 2014 10:22 am ET
Updated: January 17, 2014 11:24 am ET

Related to this story

Topics Automotive, Composites, Thermoforming

Hanwha Azdel Inc. is investing $21.3 million to add another production line at its Lynchburg, Va., plant.

The company will also add 33 jobs, Virginia officials said in a Jan. 16 news release.

Hanwha Azdel, part of South Korea’s Hanwha Group, makes thermoplastic composites, typically through thermoforming. Its parts are used in interior and exterior parts for the auto, heavy truck, recreational vehicle and other industries.

The company has seen “significant growth” in the Virginia region, which prompted the expansion in Lynchburg, said Justin Keum, CEO of Hanwha Azdel. Lynchburg is also home to the firm’s North American headquarters.

State and local officials are providing a $350,000 grant to help with the project. The state will also provide assistance in recruiting and training new employees.


Comments

Composite maker Hanwha Azdel expanding in Virginia

By Rhoda Miel
News Editor

Published: January 17, 2014 10:22 am ET
Updated: January 17, 2014 11:24 am ET

Post Your Comments


Back to story


More stories

Image

ZF finalizes deal to buy TRW, creating another global auto supply giant

September 15, 2014 1:09 pm ET

TRW Automotive Holdings, in a supply chain megadeal that has been in the works since mid-July, said Sept. 15 it has agreed to be acquired by German...    More

Image

Delphi CEO O'Neal stepping down

September 15, 2014 12:05 pm ET

Delphi Automotive plc announced that Rodney O'Neal will retire as CEO and president on March 1, 2015, ending his 43-year career at the global...    More

Image

Faurecia Seating grows in Kentucky

September 12, 2014 12:00 pm ET

Faurecia Seating LLC, a division of French-based Faurecia SA, will build a new manufacturing facility in Simpsonville, Ky.    More

Image

Behr-Hella set to open Bulgarian auto parts plant

September 12, 2014 10:20 am ET

German automotive components manufacturer Behr-Hella Thermocontrol (BHTC) is set to launch a new 22 million euro ($28.4 million) vehicle air...    More

Image

Par-Pak Europe buys Holfeld Plastics

September 10, 2014 1:58 pm ET

Holfeld Plastics Ltd., the Ireland-based packaging manufacturer, has been bought by Par-Pak Europe (PPE) for an undisclosed sum.    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

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

More Events