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Daewon America makes $13 million Capital Investment In Its Alabama Plant

Daewon America, a South Korean firm that produces suspension bars and coils for the automotive industry, plans a $13 million capital investment for equipment to expand its Opelika, Alabama, plant in the central part of the state.

As a result of its expansion plans the firm plans to hire about 32 employees.

The Opelika facility produces suspension bars and coils for Hyundai, Kia, GM and Chrysler. Opelika Mayor Gary Fuller said; "we are so pleased that Daewon is adding to their investment and bringing more employment opportunities to our citizens. This additional investment will bring the total capital investment Daewon America has made in Opelika to over $65 million."

Alabama Governor Robert Bentley said "I am proud of the relationship that the State and the city of Opelika established with Daewon America and the jobs the company has already brought to the Lee County area," he said. "Daewon is a world-class operation that has been located in Opelika since 2007. It is a testament to the state's excellent business climate that the company continues to grow and prosper right here in our state."

Alabama Development Office Director Greg Canfield recognized the importance of supporting existing industry. He said "Daewon's announcement reflects the strength of Alabama's automotive industry and the cooperative relationships we have established that have resulted in continued growth. We have made this one of our top priorities."

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