Samsung to invest $380 mn in U.S., create 950 jobs

Samsung to open $380 million appliance manufacturing plant in Newberry County

Samsung to open $380 million appliance manufacturing plant in Newberry County

Samsung Electronics Co. said it will invest US$380 million in its home-appliance manufacturing plant in Newberry, South Carolina. "I'm thrilled to strengthen our state's partnership with Samsung and look forward to working with them to get this new facility up and running, and producing high-quality, made-in-South Carolina products". Its Galaxy Note 7s had to be recalled after they started catching fire, and its top-load washing machines were recalled after consumers reported that appliance lids were detaching unexpectedly mid-wash. Samsung Electronics is going to invest about $380 million and hire about 950 as employees.

The South Korean firm had launched talks to build a factory in the United States as worries about protectionist policies under U.S. President Donald Trump put pressure on global companies to generate jobs there. Samsung Electronics CEO B.K. Yoon signed the company's plans Wednesday morning in Washington with Gov. Henry McMaster. It said it selected Newberry County "for its high-skilled workforce, robust supply chain and transportation infrastructure and commitment to public-private partnerships". By securing this new production line, it is planning to accelerate its plans to go after premium home appliance markets in the U.S. According to an American market research company called TraQline, Samsung Electronics had the highest market share in home appliance market in the U.S. past year with 17.3%.

South Carolina Senator Lindsay Graham also expressed his excitement in a statement, declaring, "As a global leader in technology, Samsung could have gone anywhere to locate its new facility, but chose to invest in South Carolina because it's a great place to do business".

"S.C. Ports Authority congratulates Samsung on their plans to establish operations in SC", said S.C. Ports Authority President and CEO Jim Newsome.

Bulls trade Butler to Timberwolves
He also lived at the free-throw line, attempting 8.9 foul shots a night and converting them at an 86.5 percent clip. The actual return the Chicago Bulls received for Jimmy Butler did not reflect the reported trade market for him.

"It's incredibly exciting that a company of the size and caliber of Samsung would choose our community for such a large and important manufacturing project", said Newberry County Council Chairman Henry H. Livingston III in a statement. This includes a focus on using local vendors when possible, which we expect will support indirect jobs beyond those being directly created in their facility, Samsung says.

It said it has invested more than US$10 billion in the United States over the past 18 months, including its US$8 billion acquisition of automotive technology manufacturer Harman International Inc., which was announced a year ago.

This is the first time for Samsung to make direct investment in the United States since it established a system chip line there back in 1996.

Over the past 18 months Samsung has invested heavily in the United States, including the notable $8bn purchase of Connecticut-based HARMAN global.

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