Koyo Corporation Announces Continuing Investment in Orangeburg County
30 Aug, 2009
The South Carolina Department of Commerce and the Orangeburg County Development Commission announced that Koyo Corporation U.S.A. will increase its investment in its Orangeburg County facility. The company will invest approximately $10 million in land, building and/or equipment at its facility in Orangeburg to preserve existing employment levels.
“We are pleased to be expanding our operations in South Carolina. We’ve operated our plant in Orangeburg for more than 30 years and look forward to continuing to grow in the Global Logistics Triangle. South Carolina has long provided our company with a positive business environment and a strong workforce. We appreciate all the support we’ve received from state and local officials,” said Yoichi Teramoto, vice president of administration for Koyo Corporation U.S.A.
Koyo Corporation expects to begin installation of equipment this year.
“Koyo Corporation is an industry-leading supplier of bearings to industrial OEM and automotive manufacturers. The company’s decision to expand its operations in South Carolina is a testament that our business-friendly climate and skilled workforce are working to continually attract investment and grow our existing business. Thanks to the team effort of state and local officials, Orangeburg County will benefit from this investment now and in the future,” said Joe Taylor, Secretary of Commerce.
“Orangeburg County has a very pro-business environment, and Koyo’s $10 million expansion is a testament to that. We are thrilled to support Koyo in its expansion efforts here, and we look forward to a continued prosperous relationship,” said Johnnie Wright, Orangeburg County Council Chairman.
“Koyo Corporation has a long history in South Carolina, and we are pleased to see them once again invest in South Carolina. We greatly appreciate the continued commitment to Orangeburg County by the company and look forward to supporting their continued growth and development,” said Jeannine Kees Chair of the Orangeburg County Development Commission.
“Koyo Corporation has long been an important member of the Orangeburg County industrial base. We greatly appreciate the significant investments and job opportunities presented over the years. This announcement further demonstrates their commitment to our region and state,” stated Central S.C. Alliance Chairman Jim Apple.
Koyo Corporation of U.S.A. is a major supplier of bearings to the automotive industry. The company is a Tier 1 and Tier 2 supplier to Toyota, Honda, Ford, General Motors, Chrysler and BMW. Koyo Corporation U.S.A. opened its facility in Orangeburg in 1975.