Samsung to Invest $380 Million in South Carolina Factory for Home Appliances

Published June 28, 2017
Dow Jones Newswires

Samsung Electronics Co. said Wednesday that it will invest $380 million to expand its U.S. home-appliance manufacturing operations at a site in Newberry, S.C., an announcement that comes as South Korean President Moon Jae-in arrives in Washington for a summit meeting with U.S. President Donald Trump.

The investment will generate 954 local jobs by 2020, including engineers and craftsmen, the company said. The facility will manufacture home appliances such as washing machines and ovens starting early next year, and Samsung said it aimed to eventually make the Newberry factory its U.S. manufacturing hub.

The Wall Street Journal, citing people familiar with the matter, reported last week that Samsung soon would announce the investment at an existing factory to be vacated by Caterpillar Inc. Newberry is about 150 miles northwest of the port of Charleston.

South Carolina officials had been courting Samsung for months and made a visit to South Korea in recent weeks, the Journal reported. Samsung said contact with South Carolina officials started last fall.

"This new investment will enable Samsung to increase the speed with which we can deliver premium home appliances," Samsung Electronics Co-Chief Executive officer B.K. Yoon said in a statement.

Mr. Trump has called for a revival of manufacturing in the U.S.

Write to Timothy W. Martin at timothy.martin@wsj.com

(END) Dow Jones Newswires

June 28, 2017 10:46 ET (14:46 GMT)