A producer of bearings for automotive manufacturers, Japan-based Koyo Bearing North America will invest at least $10 million during the next five-years on new machinery and upgrades to its Orangeburg, South Carolina, facility.
The Koyo Orangeburg facility opened in 1975 and serves as a Tier 1 and Tier 2 supplier of bearings for Toyota, Ford, Honda, General Motors and John Deere. Koyo is a subsidiary of Japan-based JTEKT Corporation, which operates 13 manufacturing sites in North America. According to the company, the move ensures its competitiveness in the automotive industry and preserves existing employment levels at the Orangeburg facility, which employs around 500 team members at present.
"This move is being done to ensure the company's competitiveness in the automotive industry and to preserve existing employment levels. Koyo appreciates the commitment of Orangeburg County and the State of South Carolina to the company's success, and looks forward to continuing its good relationship with Orangeburg County and the State of South Carolina for years to come,” said Jeff Sherrill, Plant Manager, Koyo Bearing North America - Orangeburg.
"What a great day for Orangeburg County and the Central South Carolina Region. Koyo Bearing North America has a long history of manufacturing and machine tooling excellence in Orangeburg going back nearly 40 years. Koyo's global manufacturing footprint is quite impressive and we are very honored and appreciative of the continued commitment to the State of South Carolina by making this significant investment. Congratulations to the Koyo leadership team and we wish them continued success in the future,” Mike Brenan, Chairman of the Central SC Alliance said.
"We are excited to see growth in Orangeburg County and we celebrate with Koyo as they invest $10 million in Orangeburg and help support the continued success of South Carolina's automotive industry,” Governor Nikki Haley said.
"The automotive industry continues to be a driving force in our state's economy, with more than 45,000 South Carolinians employed in the automotive sector today. These kind of announcements show that South Carolina is just right for automotive manufacturing and suppliers, and I am thrilled for what the future has in store for Koyo and Orangeburg County,” said Secretary of Commerce Bobby Hitt.
"One of our main objectives as a community is to provide a pro-business environment that encourages growth and prosperity for existing and new industries. This investment announcement from Koyo shows that Orangeburg County has the resources to foster growth in the automotive sector. Koyo has a strong history in Orangeburg County and this expansion ensures that Koyo and Orangeburg County will continue to move in a positive direction,” Ken Middleton, Chairman of the Orangeburg County Development Commission said.