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Buck and Hickman 6 inch ‘Bar Straightening Press 111143
Buck and Hickman 6 inch ‘Bar Straightening Press’  serial number 9541  

[Ref: 107679]
Buck and Hickman 6 inch ‘Bar Straightening Press’  serial number 9541 [Ref: 107679] ...
Bowland Trading Ltd

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New US plant for Samsung

Posted on 31 Jul 2017 and read 3559 times
New US plant for SamsungAccording to Reuters, Samsung Electronics Co Ltd has said it will open its first appliances plant in the USA in more than three decades.

The $380 million facility in Newberry County (South Carolina), will produce washing machines and other appliances from early next year and create nearly 1,000 jobs by 2020, the South Korean tech giant said.

This makes Samsung the latest in a long line of global companies to react to pressure from President Trump to create more US jobs.

This news was followed by a statement from South Korea’s biggest business lobby that 52 companies plan to invest a total of $12.8 billion in the USA over the next five years. That said, it was not immediately clear how much of this investment was new, as much of it had already been announced.

Samsung is the biggest manufacturer of large appliances in the USA, with a market share of around 19%, according to researcher Traqline.

However, the company has not had an appliances plant in the USA since the early 1990s, when it closed a TV factory. The investment is in line with Samsung’s strategy of boosting its high-end home-appliance product sales in the USA, having last year acquired the US-based luxury-appliances maker Dacor Inc.

The US capital spending plans of other South Korean companies include an announcement by Hyundai Motor and its affiliates in January that they will boost their US investment by 50% to $3.1 billion over five years (and it may build a new plant there).

LG Electronics Inc said in March that it plans to build a $250 million home-appliance factory in Tennessee, employing 600 people.

Meanwhile, the Korean Chamber of Commerce & Industry has announced plans to purchase $22.4 billion worth of US liquified natural gas, liquified petroleum gas and other US goods.