SC: Giti Tire to Invest $560M, Create 1,700 Jobs for New Mfg. Plant
17 Jun, 2014
Giti Tire, the 10th largest tire company in the world, will establish its first North American manufacturing facility in Chester County. The company plans to invest $560 million and create 1,700 new jobs over the next decade in order to meet the growing demand of the North American market.
The company announced its plans during an event at the GATEWAY Conference Center in Richburg, where state and local officials - including Gov. Nikki Haley and Singapore's Ambassador to the U.S. Ashok Kumar Mipuri - joined to celebrate Giti's location decision.
Based in Singapore, Giti Tire will produce both passenger and light truck tires for the Original Equipment Manufacturer (OEM) and replacement markets in the Chester County plant. The new facility, which will be located on the Carolinas I-77 Mega Site, will combine manufacturing and distribution activities, with total building area estimated to be 1.8 million square feet.
During the first phase of production, the plant's capacity is expected to be five million tires annually. Giti Tire plans to further increase production capacity in response to future market demand and conditions. The Chester County facility represents Giti's ninth manufacturing plant in its global system.
The company's decision to locate in South Carolina was driven by a number of factors, including the area's workforce and training opportunities through the technical college system, proximity to major transportation infrastructure and deep-water port facilities in Charleston, market access to the growing Southeast region and the state's business-friendly environment.
readySC will be assisting the company with the recruiting and training of its initial workforce.
"This significant investment represents our strong commitment to customers in North America. This is a key milestone for Giti Tire and an important part of our growth strategy worldwide. Existing business and strong demand for Giti Tire's passenger and light truck tires in North America has made this significant investment in South Carolina possible. Giti Tire would like to thank Governor Haley, Secretary Hitt, the state and people of South Carolina, Chairman Roddey and the Chester County community for welcoming us." -Enki Tan, executive chairman of Giti Tire Group
"Chester County is an excellent location for Giti Tire, offering extensive and efficient infrastructure network including interstate highways, rail, close proximity to airports and a major metropolitan area to support the company's needs and growth for many years to come." -Lei Huai Chin, managing director of Giti Tire Group
"This is another huge win for our state and Team South Carolina. We are the nation's tire capital, and Giti's decision to come to our state is another great sign that our economic development efforts are paying off for the hardworking people of South Carolina. We celebrate Giti Tire's $560 million investment that will create 1,700 new jobs in our growing tire industry." -Gov. Nikki Haley
"Today we welcome South Carolina's fifth OEM tire manufacturer, which further bolsters our state's reputation as a manufacturing powerhouse and the nation's tire capital. We look forward to a long and successful partnership with Giti Tire in our state." -Secretary of Commerce Bobby Hitt
"SC Ports Authority welcomes Giti Tire to South Carolina. We look forward to handling their import-export needs through the Port of Charleston and continuing to support our state's growing tire industry." -Jim Newsome, president and CEO of the South Carolina Ports Authority
"Today's announcement is a great example of what happens when we all work together to bring jobs and manufacturing back to the U.S. We applaud Giti Tire and Governor Haley, and we are excited to bring quality, affordable tires to our customers that will also help us meet our goal to spend an additional $250 billion on domestically manufactured products over 10 years." -Ryan Peterson, Walmart's vice president of automotive
"Once again, Chester County has proven its dedication to grow and prosper economically. We celebrate the company's decision to invest and create new jobs in Chester County. This announcement marks an important milestone in the history of Chester and we are extremely excited to be selected as the new location for Giti Tire. We have no doubt that Giti Tire will see much success in Chester County! " -R. Carlisle Roddey, Chester County supervisor and chairman of Chester County Council
"We are pleased to welcome our new partner to the Chester County business community. Giti Tire is known worldwide for their industry leadership and commitment to producing the highest quality products available in the marketplace today. This significant investment in a North American production facility means they are serious about expanding their global brand and continuing to lead the industry for many years to come. We are elated that they chose Chester, South Carolina and are anxious to work with them building this new world class tire manufacturing operation." -Brian Singleton, chairman of the Chester Development Association
FIVE FAST FACTS
- Giti Tire, the 10th largest tire company in the world, will establish its first North American greenfield manufacturing facility in Chester County.
- $560 million to create 1,700 new jobs over the next decade.
- New facility will combine manufacturing and distribution activities, with total building area estimated to be 1.8 million square feet.
- Plant to produce up to five million tires during the first phase of production, with plans to further increase production capacity in response to future market demand and conditions.
- readySC will be assisting the company with the recruiting and training of its initial workforce.
About Giti Tire
Giti Tire Group has been in the tire business since 1951, and is ranked 10th globally by Tyre Press. Giti Tire operates eight manufacturing plants in the world and manufactures a broad range of tire products and markets to customers in more than 100 countries.
Giti Tire (USA) Ltd. is the sales, marketing, and distribution company for North America. It markets and sells a family of brands: GT Radial, Primewell, Dextero, and Runway tires for high performance vehicles, passenger, SUV, light truck and medium truck through national retailers, independent retailers and distributors across the United States and Canada. For more information, please visit www.gtradial.com; www.primewelltires.com; www.dexterotires.com.
About S.C. Department of Commerce
As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing businesses grow. Commerce has recruited world-class companies to South Carolina such as Boeing, Bridgestone, Continental, Monster.com, ZF Group, BMW and Google Inc. and also supports small and existing business, rural development initiatives and community development. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. South Carolina ranked first in the nation for attracting jobs through foreign investment, according to IBM-Plant Location International reports in both 2012 and 2013. For more information, visit www.SCcommerce.com.