SC: Yanfeng Automotive Interiors to Invest $71M for New Plant Expansion
7 Jul, 2016
Yanfeng Automotive Interiors, the world's largest supplier of automotive interior components, is establishing operations in Laurens County. The new development is expected to bring $71 million of new capital investment and lead to the creation of 35 new jobs.
The company will supply BMW with interior components, including door panels, instrument panels and floor consoles, for multiple models built by the automaker.
Yanfeng Automotive Interiors is a supplier of instrument panels and cockpit systems, door panels, floor consoles and overhead consoles. Headquartered in Shanghai, the company has more than 100 manufacturing and technical centers in 17 countries and employs more than 28,000 people globally. Established in 2015, Yanfeng Automotive Interiors is a joint venture between Yanfeng Automotive Trim Systems Co., Ltd., a wholly owned subsidiary of Huayu Automotive Systems Co., Ltd. (HASCO), the component group of SAIC Motor Corporation Limited (SAIC Motor), and Johnson Controls, a global multi-industrial company.
The company recently completed the acquisition of Faurecia's Fountain Inn, S.C. manufacturing plant located at 101 International Boulevard. The acquisition includes the existing 365,000-square-foot plant and its current employees. Yanfeng Automotive Interiors will also be expanding the plant by an additional 100,000 square feet to accommodate future new business.
"We are pleased to be part of the community and look forward to working with the employees at the plant, and expanding our relationship with BMW. We appreciate the partnership with our customers, as well as local and state officials, who are working closely with us as we transfer control of operations at this manufacturing facility." -Vice President and General Manager of Yanfeng Automotive Interiors, North America Nathan Bowen
"We're excited to welcome Yanfeng Automotive Interiors to the South Carolina family as the latest company to join our growing manufacturing industry. Yanfeng's $71 million investment, and the 35 new jobs it means for Laurens County, shows that companies from all over the world continue to notice Team South Carolina's commitment to developing a competitive business environment and one of the best workforces in the world." -Gov. Nikki Haley
"Congratulations to Yanfeng for selecting Laurens County for their newest facility. With today's announcement, they join a roster of globally-respected manufacturing firms that have chosen to do business in South Carolina, and we look forward to assisting them in any way we can." -Secretary of Commerce Bobby Hitt
"Yanfeng is another great addition for Laurens County. People are understanding Laurens County is a great place to live and work." -Laurens County Council Chairman Joe Wood
"We welcome Yanfeng to the large automotive industry family in Laurens County. Their commitment to Laurens County is very much appreciated, and we look forward to working with them for many years to come." -Laurens County Development Corporation Chairman Stan Bryson
"Yanfeng's selection of Laurens County evidences the Upstate's established workforce and the strength of its automotive cluster. This global industry leader is a welcome addition to the international fabric of our automotive ecosystem, which is in a prime location for serving automotive manufacturers throughout the Southeast." -Upstate SC Alliance President and CEO John Lummus
FIVE FAST FACTS
- Yanfeng Automotive Interiors is establishing operations in Laurens County.
- $71 million in new capital investment to create 35 new jobs.
- Yanfeng Automotive Interiors is a manufacturer of automotive trim systems for major OEMs and is the world's largest automotive interiors supplier.
- The new development will be located at 101 International Boulevard, Fountain Inn, S.C. 29644.
For more information, visit the company's website at www.YFAI.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 business grow. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. 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. IBM-Plant Location International reports in 2012, 2013 and 2015 ranked South Carolina first in the nation for attracting jobs through foreign investment. For more information, visit www.SCcommerce.com.