South Korean Supplier to Build $40 Million Auto Parts Plant in Georgia Near New Hyundai Complex
South Korean auto parts supplier, Hanwha Advanced Materials, has announced plans to build a $40 million manufacturing plant in LaGrange, Georgia. The new facility will be located near the recently opened Hyundai Motor Manufacturing Alabama (HMMA) plant in Montgomery, Alabama.
Hanwha Advanced Materials is a leading supplier of lightweight composite materials used in the production of automobiles. The company’s products include carbon fiber reinforced plastics (CFRP), glass fiber reinforced plastics (GFRP), and hybrid materials that combine both carbon and glass fibers.
The new facility in LaGrange will produce lightweight components for Hyundai and Kia vehicles, as well as other automakers. The plant is expected to create 200 jobs in the region.
The decision to build the new plant in Georgia was influenced by the state’s pro-business environment, skilled workforce, and proximity to the HMMA plant. The new plant will be Hanwha’s first manufacturing facility in the United States.
“We are excited to establish our first U.S. manufacturing facility in Georgia,” said Hanwha Advanced Materials CEO, Kim Dong-Kwan. “We look forward to working with the state of Georgia and Troup County to create jobs and contribute to the local economy.”
Georgia Governor Brian Kemp welcomed the news, saying, “Hanwha Advanced Materials’ decision to locate in LaGrange is a testament to Georgia’s pro-business environment and skilled workforce. We are proud to welcome this innovative company to our state and look forward to their continued success.”
The new plant is expected to begin production in 2022. Hanwha Advanced Materials plans to invest $20 million in the first phase of construction and an additional $20 million in the second phase.
The announcement comes as Hyundai and Kia continue to expand their manufacturing presence in the United States. In addition to the HMMA plant in Alabama, Hyundai operates a plant in West Point, Georgia, while Kia has a plant in West Point and another in nearby Opelika, Alabama.
The new Hanwha Advanced Materials plant will further strengthen the South Korean automakers’ supply chain in the region and support their efforts to produce more fuel-efficient vehicles.
In conclusion, the decision by Hanwha Advanced Materials to build a $40 million manufacturing plant in LaGrange, Georgia, is a positive development for the state’s economy and the automotive industry. The new facility will create jobs and support the production of lightweight components for Hyundai and Kia vehicles, as well as other automakers. The investment also highlights Georgia’s pro-business environment and skilled workforce, which continue to attract foreign investment and support economic growth.
