German-based Schaeffler Group USA, an automotive and industrial component supplier, will invest $40 million to expand its two manufacturing plants in Chesterfield County, South Carolina, with plans to hire 190 employees.
The firm said it has been manufacturing bearings for more than 40 years in Cheraw, where it operates two plants. Both facilities will be expanded to produce bearings and engine components for new automotive applications. The expansions will be completed by 2013; this will be the second major expansion of its Chesterfield facilities in the last two years.
“Schaeffler Group USA is proud to continue our long standing partnership with the Town of Cheraw, Chesterfield County and the state of South Carolina. We have a skilled team capable of manufacturing high-quality bearings and engine components for our automotive and industrial customers,” said Bruce Warmbold, president and CEO of Schaeffler Group North America.
“Having a long-time South Carolina manufacturer like Schaeffler Group USA choose to make another substantial new capital investment into its Chesterfield County operations is more excellent news for South Carolina’s economy,” Governor Nikki Haley said. “South Carolina’s exceptional workforce talent and training programs continue to attract investments like this one, and have made our state the best place in the South to start, locate or expand a business.”
“We in Cheraw have had a great business relationship with Schaeffler from day one. We have seen them grow to where they are today and the entire community appreciates their presence here. We are proud to be a part of this announcement and we are glad to offer Schaeffler additional incentives to help this announcement become a reality,” said Cheraw Mayor Andy Ingram.
As an incentive, the Coordinating Council for Economic Development approved job development credits, which will be available when hiring targets are met.
ReadySC, a division of the S.C. Technical College System, will offer pre-employment training designed specifically for the Cheraw operations. Training in this project will be in the areas of technical skills, advanced automation, safety practices and leadership skills.