Koyo Corporation of U.S.A. to Invest $30M to Preserve Existing Employment Level
1 Feb, 2009
The South Carolina Department of Commerce, Richland County and the Central S.C. Alliance announced that Koyo Corporation of U.S.A. will increase its investment in its Richland County facility. The company will invest approximately $30 million in land, building and equipment at its facility in Blythewood to preserve existing employment levels.
“We are pleased to be expanding our operations in South Carolina. We’ve operated our plant in Blythewood for more than a decade and look forward to continuing to grow in the Midlands. 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 of U.S.A.
Koyo Corporation expects to begin installation of equipment in 2009. The company plans to install two new production lines in the Richland County facility.
“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, Richland County will benefit from this investment now and in the future,” said Joe Taylor, Secretary of Commerce.
“Richland County has a very pro-business environment, and Koyo’s $30 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 Valerie Hutchinson, acting chair of Richland County Council.
“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 Richland County by the company and look forward to supporting their continued growth and development,” said 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, Daimler Chrysler and BMW. Koyo Corporation of U.S.A. established the Blythewood plant in 1995, and also operates a manufacturing facility in Orangeburg County, which first opened in 1975.