Auto Supplier Invests $40 Million in First U.S. Factory in Tennessee

SourceThomas Insights
Date Published09/13/2021
Author NameAndy Szal
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Sungwoo Hitech America Corp.
Parent companySungwoo Hitech
Type of work Manufacturing
If manufacturing, is the company a contract manufacturer?Yes
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):117
Year reshoring announced:2021
Year reshoring implemented or to be implemented:2022
Capital investment ($):40
Country(ies) from which reshored:Korea, Republic of
City reshored to:Telford
State(s) reshored to:TN
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredbumpers, rear components, side framing
What domestic positive factors made reshoring more attractive?Impact on domestic economy, Lead time/Time to market
Find Reshoring Articles