Shinwa Group Plans to Build First US Factory in Alabama
AUBURN, AL—Auto parts manufacturer Shinhwa Group recently announced plans to build its first U.S. factory in eastern Alabama to supply nearby auto plants. State officials said the South Korean company would invest $42 million at the site here, which is located between its first two customers: Hyundai’s auto plant in Montgomery, AL, and Kia’s factory in West Point, GA.
Shinhwa will initially supply drive shafts to those facilities with highly automated machining processes. Company officials said the plant would add die casting lines “in the near future” and expand its operations as it adds new auto industry customers in North America.
“The Shinhwa Group has become a leader in the aluminum die casting industry because of our willingness to overcome technical challenges,” Shinhwa CEO Kwi-Hyun Lee said in a statement. “We are proud to call Auburn our new home.”
The first phase of construction is expected to be completed in the summer of 2020. The overall project is expected to create 95 new jobs.