Tyre cord firm Kiswire continues US plant expansion
Kiswire, Inc. is continuing the expansion of its South Carolina, USA tyre cored factory with the investment of $30 million, a figure which is to expected to create 45 new jobs. Once the expansion is completed, Kiswire, Inc. will employ approximately 200 at its two Newberry, South Carolina facilities.
The latest move represents the second phase of Kiswire’s expansion plans. The first phase was announced in January 2013, and represented a $15 million investment and the creation of 30 new jobs. This initial phase came to fruition when production began at its new manufacturing site in December 2013.
Kiswire Co. Ltd., which was founded in 1945 and is headquartered in South Korea, is the parent company of Kiswire, Inc. Established in 1999 and based in Newberry, Kiswire, Inc. produces steel cord and bead wire for the tyre industry. When this expansion is completed, Kiswire, Inc. expects to have all the tyre companies currently manufacturing in the US on its client list – something that is likely to be a veiled reference to the Giti Tire US factory which will also be based in South Carolina and was announced in mid-2014.
Phase two of the steel cord operation involves the construction of the Plating Operation Building. Located at 90 Twin Springs Road in Newberry, the construction of this building will add 170,000 square feet to the current facility and will include additional machines. The facility will convert high carbon steel rod through a process that involves drawing, heat treating, and electro-plating to supply the current building. Construction is expected to begin in December, 2014.
“The Kiswire Inc. group is pleased and excited about our manufacturing growth in Newberry County. During the last 15 years, the tyre bead wire plant has exhibited continual increases in production and is currently at maximum capacity. The expansion of the tyre manufacturing business in South Carolina and the southeastern United States has brought great opportunities for us as a supplier. This new steel cord plant positions Kiswire as a major supplier to this growing tire business. We are proud to be part of the bright future in South Carolina”, Jim Goodrich, Kiswire Inc., Steel Cord Division, plant manager commented.
South Carolina Secretary of Commerce Bobby Hitt added: “It’s no secret that South Carolina is having great success in both the tyre industry and foreign direct investment arenas. I’m proud that global firms, like Kiswire, are recognizing this and deciding to grow their businesses in our state.”