- Created: Thursday, 29 June 2017 11:13
- Hits: 140
Samsung are splashing out about $380 million to establish a appliance manufacturing base in South Carolina of the United States to be churning out washing machines from early next year and creating 950 jobs over the next three.
Samsung said on Wednesday that it had signed a letter of intent with the state of South Carolina to purchase an idle site in Newberry, 150 miles northwest of the port of Charleston that was used by the heavy equipment maker Caterpillar until last year, and renovate it into a factory for home appliances.
The signing ceremony has been timed with President Moon Jae-in’s first state visit to the U.S. and summit with his U.S. counterpart Donald Trump.
Samsung has stressed that the plan had been long sought and was not motivated by Trump’s American First agenda offering incentives for companies adding manufacturing jobs in the U.S. and the tariffs that have been imposed on imported goods.
Okay then, we believe it, honest!
“The newly built factory will be a basis for long-term growth in the world’s largest home appliance market,” Samsung said in a statement.
The company plans to turn out other appliances but did not specify what they would be or when they would come online.
“This new investment will enable Samsung to increase the speed with which we can deliver premium home appliances that reflect the regional preferences of our fastest growing and most important consumer market,” said Yoon Boo-keun, president of Samsung Electronics’ consumer electronics division.