GKN Driveline to invest $179 million to expand North Carolina manufacturing facilities
Resource from: GKN Driveline Likes:302
Dec 23,2016
GKN Driveline will invest nearly $179 million to expand manufacturing facilities in Alamance, Catawba, Lee and Person counties in North Carolina. The investment will occur over the next five years and will create 302 jobs.
The investment and new jobs have been added to support growing All-Wheel-Drive and eDrive business for several North American automotive manufacturers. North American All-Wheel-Drive system sales are projected to reach more than 3 million units annually in 2020, up from approximately 2.4 million in 2015.
“Our investment in North Carolina is an important step forward for GKN Driveline, our automotive customers and the communities our team members call home, ” said Phil Swash, CEO, GKN Driveline. “GKN Driveline is well-positioned to take advantage of car buyer demand for All-Wheel Drive systems and our investment in North Carolina is an important part of our long-term growth strategy.”
GKN Driveline’s expansions in Alamance, Lee and Person counties will be facilitated, in part, by a Job Development Investment Grant (JDIG). Under the terms of the JDIG, GKN is eligible to receive up to $1,539,000 in total reimbursements over 12 years.
The company’s expansion in Catawba County, facilitated through a separate JDIG, makes GKN eligible to receive up to $1,587,600 over 12 years. The state’s Economic Investment Committee approved both grants earlier today.
“We appreciate the hard work and support of Governor Pat McCrory and the Economic Development Partnership of North Carolina (EDPNC) for working so diligently to get these grants approved,“ Phil Swash, CEO, GKN Driveline said. “North Carolina has been home to GKN since 1978 and continues to create and provide an outstanding environment to help manufacturers succeed. We look forward to our continued success and contributions to the economy here.“
(GKN Driveline)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
