TN: ATLASBX Co., LTD to Invest $75M, Create 200 Jobs in Clarksville
5 Apr, 2018
Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and ATLASBX Co., LTD officials announced the company will locate its first U.S. manufacturing facility in Clarksville. The global automotive battery manufacturer will invest $75 million and create approximately 200 jobs in Montgomery County.
“We are proud to welcome ATLASBX to our state and thank the company for choosing Clarksville as the location for its first US manufacturing facility,” Haslam said. “Our central location and business-friendly environment continue to make Tennessee the perfect place for manufacturing companies to locate operations. I appreciate ATLASBX for creating approximately 200 jobs in Montgomery County and this investment is one more example of how Tennessee will lead in the creation of high-quality jobs.”
“I appreciate ATLASBX’s decision to locate its first U.S. manufacturing facility in Clarksville and create 200 jobs in Montgomery County,” Rolfe said. “Our department places a strong emphasis on foreign direct investment and South Korean companies continue to be a great partner. Today, more than 3,000 Tennesseans are employed by South Korean companies, representing a private capital investment in excess of $1 billion. We thank ATLASBX for creating these high-quality jobs for our state and look forward to seeing the company’s future growth in Tennessee.”
ATLASBX is a manufacturer of storage batteries primarily in South Korea. It produces batteries for traditional passenger cars, light trucks, electric vehicles, commercial vehicles, boats and recreational vehicles. The company has a 74-year history of producing high-quality batteries. It currently operates two manufacturing plants in South Korea, which is also the location of its global headquarters office.
ATLASBX is a sister company of Hankook Tire, which officially opened its tire manufacturing plant in Clarksville in October 2017.
“Tennessee is known for its intelligent, hard-working population,” Ho Youl Pae, CEO of ATLASBX CO., LTD said. “Clarksville’s thriving economy and skilled workforce appealed to our company and led to this decision, which we believe will allow our company to experience significant growth.”
ATLASBX plans to build a new manufacturing facility that will be completed by 2020. The company will produce approximately 2.4 million batteries per year at the Clarksville facility, with a dedicated Absorbent Glass Mat (AGM) line, a high-performance battery for start-stop vehicles.
ATLASBX also maintains a headquarters office in Nashville that was established in 2017.
Local leaders and the Tennessee Valley Authority thanked ATLASBX for its investment in Clarksville.
“We are pleased to welcome ATLASBX to Montgomery County. With more than 70 years of business experience and importing to 130 countries, ATLASBX is positioned to be the global leader in the automotive battery industry. The prepared site in the corporate business park provides ATLASBX with a six-month head start in becoming that global leader,” Montgomery County Mayor Jim Durrett said. “Montgomery County continues to be a preferred location for international companies. I'm often asked, what makes Montgomery County so attractive? My first response is the people. We are not only looking for partnerships, we are looking for relationships.”
“I appreciate ATLASBX's choice of Clarksville and welcome them to our community,” Clarksville Mayor Kim McMillan said. “Once again, we have attracted a new industry, which shows that our high-quality workforce and strong quality of life make Clarksville a great place to do business. That ATLASBX is a South Korean firm, and joins Hankook Tire and LG as companies from that nation who have chosen Clarksville, makes us proud that our community continues to impress South Korea's industrial leaders. We look forward to a long, prosperous partnership between ATLASBX and the City of Clarksville.”
“TVA and Cumberland Electric congratulate ATLASBX on its decision to locate in Clarksville, Tennessee,” said TVA Senior Vice President of Economic Development John Bradley. “Helping to attract and retain new job opportunities is fundamental to TVA’s mission of service and we are proud to partner with the Tennessee Department of Economic and Community Development, Clarksville Montgomery County Industrial Development Board, Montgomery County and city of Clarksville to help further that mission.”
Clarksville and Montgomery County are represented by Sen. Mark Green (R - Clarksville), Rep. Curtis Johnson (R - Clarksville), Rep. Joe Pitts (D - Clarksville) and Rep. Jay Reedy (R - Erin) in the Tennessee General Assembly.
ATLASBX is one of the leading battery manufacturers in Korea and has a longstanding history in the automotive battery industry. ATLASBX produces over 15 million batteries per year and services more than 300 customers globally under its own brands, as well as well-known brands such as ACDelco. In addition, ATLASBX is proudly supplying global automakers, including General Motors and Renault-Nissan Alliance with Original Equipment batteries in other regions. ATLASBX America Corporation was established at Nashville, Tennessee in 2017.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.