Auto parts manufacturer American Minghua Co., Ltd. plans to invest at least US$29 million to build a factory in Greer, South Carolina, which will bring 79 new jobs.
The company is a wholly-owned subsidiary of China Jiangnan Molding Technology Co., Ltd. Company spokesperson Bruce Luna told this magazine that 70 acres of land has been purchased in Greer for the construction of at least 160,000 square feet of operation center.
The construction project is expected to start in 2019, and the completion time has not yet been determined.
'Minghua plans to expand its injection molding and painting capacity, will purchase equipment for the new plant, and add new equipment to the existing plant. 'At present, Minghua expects the total investment in purchasing equipment is about 13 million US dollars.
In 2016, Jiangnan Mould, the parent company, announced for the first time that it will build an injection molding plant in Greer and invest USD 45 million in the project. The construction project was completed last year. The Greer plant produces parts for BMW's X5, X6 and X7, currently 19 units. Injection molding machine, clamping force is 150 tons to 2300 tons.
The US name is experiencing rapid growth and currently has 250 employees, and plans to increase to 320 by the end of the year. Luna said, 'The driving force comes from customers and the local good business environment, and there is a talent pool familiar with the automobile manufacturing industry.'
In January of this year, Plastics News reported that Minghua chose Troy, Michigan, as its North American headquarters, and invested $8.4 million to build a sales and R&D center to support its operations.
Luna said: 'From a global perspective, the parent company and affiliates of American Minghua are growing and expanding, as global OEMs and Tier 1 suppliers are increasingly demanding plastic products and high-tech molds.'
Minghua announced sales revenue of 4.3 billion yuan in 2017, net profit of 134.5 million yuan.