On Friday, carbon fiber manufacturer Teijin broke ground a $600 million carbon fiber production facility in Greenwood, S.C. that is expected to create more than 200 jobs. The Teijin facility, according to businessfacilities.com, is the largest initial capital investment by a company in the county’s history.
Teijin says the facility will play a big role in the company’s long-term market strategy. In 2016, the company acquired Continental Structural Plastics with the hope of establishing a foundation for an automotive composite products business in North America. Since then, the companies have worked together on a number of market-changing applications, including the automotive industry’s first-ever carbon fiber truck bed for the 2019 GMC Sierra Denali.
“This new carbon fiber plant in Greenwood, S.C. is an essential part of the future of our company,” said Toshiya Koyama, Managing Executive Officer at Teijin. “Experience has shown us that South Carolina’s pro-business environment is a magnet for growth and new jobs. Today is one small step for the future of Teijin and South Carolina’s economy, [and] one giant leap for the future of global transportation.”
Since 1994, when first South Carolina-made BMW rolled off of the assembly line at the company’s upstate manufacturing facility, the state has been a hotbed for automotive business. According to the South Carolina Department of Commerce, the state currently leads the U.S. in the export of completed passenger vehicles.
“Teijin is one of the biggest names in Japan, and they are not locating in South Carolina by chance. It is a wise business decision,” said Japanese Consul General Takashi Shinozuka.
The facility is expected to be operational by the end of FY 2020.