Coroplast Tape Corp., a German-based maker of adhesive and insulating tapes used in the auto industry, is planning to locate its first U.S. production plant in York County, South Carolina.
“South Carolina provides us with an excellent business environment and the workforce talent we require to be successful,” said Marcus Söhngen, president of Coroplast Tape Corp. “We appreciate all the support we’ve received from state and local officials in bringing this project to fruition.”
The $12 million investment is expected to generate 150 new jobs.
The company will manufacture a range of adhesive and insulating tapes used in the automotive industry and will start operations in the second quarter of 2014.
“In the last 20 years, South Carolina’s manufacturing sector has transformed from being concentrated in textiles to being a leader in the automotive industry,” said Secretary of Commerce Bobby Hitt. Since January 2011, more than $5.1 billion and more than 8,500 jobs have been created in the automotive-related sector in the state.
“The Palmetto State has also seen investment from foreign companies grow," added Hitt. Since 2011 more than $6.5 billion and more than 15,000 jobs have been created by foreign-based companies.
South Carolina is presently rated as the top state for jobs through foreign investment, according to IBM’s Global Location Trends report.