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

Auto supplier adds production space, jobs at plant in central Hungary

April 22, 2014 9:50 am ET

Automotive parts manufacturer Ábrahám Kft. has expanded its factory in Túrkéve, in central Hungary, with the launch of a new production hall as part...    More

Image

'Thermoforming has nearly limitless possibilities'

April 18, 2014 12:54 pm ET

Julie McAlindon of PolyOne Corp. speaks about the future of thermoforming and the integration of Spartech Corp.    More

Image

Increased orders prompt Georg Utz to add capacity, equipment in Indiana

April 18, 2014 12:20 pm ET

Plastic totes and tray orders have picked up to the point where manufacturer Georg Utz Inc. has added machines, silos and material feed systems to...    More

Image

Ascend targets nylon for auto applications, opening propylene monomer unit in Texas

April 18, 2014 10:57 am ET

Materials firm Ascend Performance Materials Inc. is in full operation at its new nylon 6/6 compounding line in Florida and will break ground by the...    More

Image

German auto supplier Dr. Schneider opens second US plant

April 17, 2014 12:57 pm ET

Dr. Schneider Kunststoffwerke GmbH, a German supplier of plastic interior auto parts, has opened a $29 million manufacturing plant in Russell Springs,...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 – The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events