Sungwoo Hitech is investing $40 million in its first U.S. manufacturing facility in Telford, Tennessee.
Sungwoo Hitech America Corp. has purchased the former Alo Tennessee building in the Washington County Industrial Park, where the manufacturer of metal stamped components plans to employ 117 people.
“Sungwoo Hitech has experienced significant growth, and we are excited to now bring our first production facility to the U.S., in particular, Washington County, Tennessee,” said Suk Je Lee, CEO and president of Sungwoo Hitech America. “This is our first plant in the United States, but we see this as a steppingstone for future growth. We plan to invest and grow in this region and make a positive impact to the community.”
The Telford facility will produce bumpers, rear components and side framing for customers including General Motors, Hyundai, Kia, Volkswagen and BMW. Renovations on the 380,000-square-foot facility are underway and manufacturing is slated to begin in early 2022.
“We welcome Sungwoo Hitech America to Tennessee and appreciate the company’s decision to call Washington County home to its first U.S. manufacturing operations. This $40 million investment will bolster our state’s reputation as a leader in automotive manufacturing while providing nearly 120 job opportunities in Northeast Tennessee,” said Gov. Bill Lee.
Founded in 1977 and headquartered in Seoul, Korea, Sungwoo Hitech has 26 facilities in 10 countries employing nearly 18,000 people. The company has relied on its research and development centers to help it establish its light weighting technology, using materials such as aluminum, CFRP, magnesium and giga steel in its products.