Daewon America announces $16 million expansion, more jobs | Business
OPELIKA, AL - At the Opelika City Council meeting Tuesday, Mayor Gary Fuller announced Daewon America will be investing an additional $16 million in capital for new manufacturing equipment and hiring 30 new associates.
The additional investment is for a new coil spring line expansion and will bring Daewon America’s total capital investment in Opelika to over $80 million.
Mayor Fuller expressed his gratitude to Daewon America for their continued growth in Opelika, “We’re pleased that Daewon is making this additional investment in Opelika. Their need for additional capacity is a good indication that Daewon is enjoying success here in Opelika. It is wonderful to see existing industry continue to grow and bring more opportunities for our citizens.”
The Opelika City Council then passed a resolution granting approval for tax abatements for the new investment.
City Council President Eddie Smith echoed Fuller’s appreciation, “On behalf of the City Council, we are thankful for this additional investment and the new jobs created by Daewon.”
Daewon America, Inc. is a division of Daewon Kang Up, one of the world’s largest manufacturers of coil spring and stabilizer bars. The Opelika facility, located in the Northeast Opelika Industrial Park, produces suspension bars and coils to supply the automotive industry including Hyundai, Kia, GM and Chrysler.
INFORMATION SOURCE: Opelika Mayor's Office
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