China's widening investment in the US, at a glance
- Article by: The Associated Press
- Associated Press
- June 22, 2014 - 11:05 PM
Chinese investment in the United States reached a record $14 billion last year, according to the Rhodium Group, a research firm. Across the country, Chinese companies are opening factories or expanding existing ones and creating jobs.
— Fuyao Glass Industry Group Co., based in Fuzhou, China, is taking over a plant in Moraine, Ohio, that General Motors abandoned in 2008. The company says it will hire at least 800. The site puts Fuyao within four hours' drive of auto factories in Ohio, Kentucky and Indiana.
— Golden Dragon Precise Copper Tube Group, based in China's Henan province, has opened a $100 million plant in impoverished Wilcox County, Alabama. It will make copper tubing used in air conditioners and expects to employ more than 300.
— Chinese textile manufacturer Keer Group is investing $218 million in a plant in Lancaster County, South Carolina, to make industrial yarn and says it will employ 500. South Carolina supported the project with a $4 million grant.
— Nanshan America, which makes aluminum parts, says it will expand employment at its plant in Lafayette, Indiana, from 135 to 200 by year's end. The 600,000-square-foot factory began production in December 2012. Nanshan America is a subsidiary of the Chinese conglomerate Nanshan Group, which owns everything from banks to clothing factories.
— Chinese paper maker Shandong Tranlin Paper Co. Ltd. last week announced plans to invest $2 billion to open an 850-acre paper and fertilizer plant in Chesterfield County, south of Richmond, Virginia. The plant will employ 2,000 by 2020, according to Virginia Gov. Terry McAuliffe. It will make paper products from straw and corn stalks and organic fertilizer from waste left by its paper-making process.
— Taizhou Fuling Plastics Co. Ltd., based in Zhejiang province in eastern China, has announced plans to spend $21 million to open a plastic tableware and kitchenware plant in Upper Macungie Township, near Allentown, Pennsylvania. The plant expects to hire 75 workers over the next three years.
— Tianjin Pipe is investing $1 billion in a factory in Gregory, Texas, that makes pipes for oil and gas drillers. The company says it will start production late this year or early in 2015. It says it will have 50 to 70 employees by the end of this year and 400 to 500 by the end of 2017.
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