Teijin Limited recently celebrated the groundbreaking of its new $600 million carbon fiber production facility in Greenwood.
The facility, which is located along Highway 246 South, will be operated by subsidiary Teijin Carbon Fibers. It is expected to be operational by the end of 2020 and create some 220 jobs, the largest initial capital investment in Greenwood’s history.
According to a news release, the new facility is part of Teijin’s efforts to further evolve its carbon fiber businesses under a long-term vision to reduce the environmental footprint to satisfy tightening environmental regulations worldwide.
“We look forward to this new chapter of Teijin’s expansion in the U.S.,” said Yukito Miyajima, president of Teijin Carbon Fibers. “We are strengthening its global upstream-to-downstream carbon fiber business. We have been leveraging research and development to expand carbon fiber business in the aircraft and automotive fields,” he added. “Throughout this process, we looked at multiple locations, but ultimately, with the support of local and state government officials, we chose Greenwood as the ideal location for our new U.S. carbon fiber facility.”
Headquartered in Japan, Teijin is a technology-driven group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting, and IT.
The group has some 170 companies and around 19,000 employees spread out over 20 countries worldwide, according to a news release. It posted consolidated sales of $7.6 billion and total assets of $9 billion in the fiscal year ending March 31, 2018.
“South Carolina continually strives to build upon our manufacturing industry, and Teijin’s expansion and commitment to our state is proof that our hard work is paying off,” said Bobby Hitt, Secretary of Commerce, South Carolina. “We treasure our relationship with Teijin and look forward to industry success for years to come.”
For more information, visit teijin.com.