AUBURN HILLS, Mich.--(BUSINESS WIRE)--Oct 1, 2019--
Continental Structural Plastics (CSP), a global leader in highly-engineered, composite vehicle components, broke ground today for a manufacturing facility in Seguin, Texas. This new facility, located near Interstate 10, Rio Nogales Drive and 8 th Street, is expected to be fully operational by 2021.
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CSP's new manufacturing facility in Seguin, Texas, will employ 200 people in production, engineering and administrative positions. (Photo: Business Wire)
CSP and its parent company Teijin, are making a capital investment of approximately $70 million to construct the 200,000 square-foot facility, which is being built to support future growth and to help the company maintain its competitive advantage. The facility will result in the creation of 200 production, engineering and administrative jobs. This location will become CSP’s 19 th global manufacturing facility – 14 th in North America, and the Teijin Group’s 25 th global composite component manufacturing facility.
“We continue to see growth opportunities for our advanced composite and multi-material components globally, so we’re making sure we have the manufacturing capabilities necessary to meet our customers’ needs,” explained Steve Rooney, CSP CEO. “We are truly grateful to the State of Texas, the City of Seguin and Guadalupe County for the support we’ve received in initiating this project, and we look forward to being an active member of the Seguin community.”
CSP selected the Seguin location for its newest manufacturing plant based on a number of factors, including availability of a skilled workforce, proximity to a number of customer and potential customer facilities in Texas and surrounding states, and a variety of incentives and abatements offered, including a land grant and tax abatement from the City of Seguin, and a Texas Enterprise Fund (TEF) grant from the State of Texas, in exchange for specific capital investment and workforce commitments by CSP.
About Continental Structural Plastics
Continental Structural Plastics, a Teijin Group company, has provided leading-edge technologies in lightweight composite solutions for the automotive, heavy truck, HVAC and construction industries for 50 years. Headquartered in Auburn Hills, Michigan, CSP provides full-service engineering support, and holds multiple patents covering materials development and manufacturing processes. The company has operations on three continents and more than 4,300 employees. For more information, visit cspplastics.com.
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global 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 over 170 companies and around 20,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY888.6 billion (USD 8.1 billion) and total assets of JPY1020.7 billion (USD 9.3 billion) in the fiscal year ending March 31, 2019.
Please visit www.teijin.com
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CONTACT: Kim Zitny
KEYWORD: TEXAS MICHIGAN UNITED STATES NORTH AMERICA ASIA PACIFIC JAPAN
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY AFTERMARKET AUTOMOTIVE CHEMICALS/PLASTICS AUTOMOTIVE MANUFACTURING MANUFACTURING OTHER CONSTRUCTION & PROPERTY
SOURCE: Continental Structural Plastics
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PUB: 10/01/2019 11:30 AM/DISC: 10/01/2019 11:30 AM