AL: Hanwha Cimarron Invest $130M, Hire 261 for New Manufacturing Facility
17 Aug, 2021
Hanwha Cimarron LLC, a maker of filament-wound carbon fiber tanks and pressure vessels, announced plans to invest $130 million to open a new manufacturing facility in Opelika, where it will create 261 jobs.
Hanwha Cimarron CEO David Jeon said the new facility will help fuel the company’s growth in the carbon overwrap pressure vessel market, catering to the needs of industries including aerospace, drone, defense, marine, rail, and gas transport and storage.
“We’re excited about bringing over 200 good-paying jobs to the local area and about being a part of the greater Opelika community,” Jeon said. “We look forward to forming strong local partnerships that will benefit the community, the company and our employees.”
Governor Kay Ivey applauded Hanwha Cimarron’s investment plans in Alabama.
“Hanwha Cimarron’s decision to build a new manufacturing facility in Opelika is great news for the city and for the state,” Governor Kay Ivey said.
“This is another project that will create jobs for our hard-working citizens while also showing Alabama offers the kind of business environment that companies seek for success.”
Hanwha Cimarron officials joined Mayor Gary Fuller this afternoon at a meeting of the Opelika City Council to outline the scope of the project.
Fuller welcomed Hanwha Cimarron to the East Alabama city’s business community. The new facility will be located in the Northeast Opelika Industrial Park.
“Our city provides a strong workforce and offers great living amenities,” he said. “We are excited to support this industry.”
In December 2020, South Korea-based Hanwha Solutions Corp. acquired Huntsville-based Cimarron Composites as part of a strategic expansion into the hydrogen energy business.
Cimarron, founded by a former NASA researcher, produced tanks for rockets. Its products also have potential implications for hydrogen-powered automobiles and charging stations.
“Hanwha Cimmaron can count on a skilled workforce and the support it needs to build a high-performance operation in Opelika,” said Greg Canfield, Secretary of the Alabama Department of Commerce.
“Working together, I know that we will be able to find all the ingredients that will allow the company’s new facility to thrive and grow in the future,” he added.
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