LSP Automotive Systems LLC to Expand Facility; Create 61 New Jobs; Invest $45M
24 Dec, 2008
The South Carolina Department of Commerce and UnionCounty announced that LSP Automotive Systems LLC will expand its facility in UnionCounty. The $45 million investment is expected to create 61 new jobs.
“We are pleased to move forward with our expansion plans in UnionCounty. South Carolina continues to offer us a positive business environment and the skilled workforce we require. We appreciate all the support we’ve received from state and local officials,” said Oliver Wackenhut, CEO of LSP Automotive.
LSP Automotive is a Tier One supplier of premium Class A metal and assemblies for the North American automotive industry. LSP Automotive was founded in late 2005 to supply BMW with Class A stampings and assemblies for the company’s X6. The company was the first automotive supplier in UnionCounty. In 2005, LSP committed to create 130 jobs and today currently employs over 150 people. LSP’s current expansion plans will generate an additional 61 new jobs at its UnionCounty facility.
“LSP Automotive is a leading supplier of automotive stampings and assemblies for the North American auto industry. The company’s decision to expand its operations in South Carolina is a strong testament to the state’s business-friendly climate, skilled workforce and the growth of the automotive industry in South Carolina. As a supplier to BMW, this expansion also demonstrates the benefits our state is beginning to witness from BMW’s commitment to grow further in South Carolina. Thanks to the team efforts of local and state officials, UnionCounty will benefit from this investment,” said Joe Taylor, Secretary of Commerce.
“UnionCounty is committed to working with our existing businesses to help them grow and provide more job opportunities for our residents. LSP Automotive has been an important part of our business community and we are pleased to see the company expand operations here. We look forward to continuing a strong and mutually beneficial relationship with the company,” said Donnie Betenbaugh, chairman of Union County Council.
LSP owns over 60 acres of land and has a 230,000 square foot building in UnionCounty. LSP is a 100 percent subsidiary of the German Automotive supplier Laepple AG. Laepple has been the system partner to the automotive and sheet metal industry for over 80 years. With more than 4500 employees worldwide, Laepple provides Audi, BMW, Daimler, Porsche, Volvo, VW, DAF, Opel, among others, with dies, prototypes, sheet metal stampings and plastic molds. For more information, visit www.lspautomotive.com.