In a complex deal, brokered by JobsOhio, Fuyao Glass Industry Group Co. Ltd. bought the former GM Moraine plant, located in Dayton, Ohio and comprised of over 1 million square feet, from its current owner Industrial Realty Group.
The company is investing $200 to build its first North American automotive glass manufacturing facility.
Ohio is very happy to see the plant working again as 800 employees will be hired over the next five years. “Ohio is thrilled by its new partnership with Fuyao. Chairman Cao has a bold, long-term vision for his company and it’s great that Moraine, Montgomery County and Ohio are part of it,” said Ohio Governor John R. Kasich.
The Governor of Ohio also pointed out that Cao won Ernst and Young’s 2009 World Entrepreneur of the Year Award and was named China’s most generous philanthropist four times by China’s Hurun Report.
Fuyao is the largest automotive glass supplier in China with 65% of the market and 18% of the global automotive glass market. The company currently has a presence in the U.S., Germany, Russia, Japan, South Korea, Australia, Brazil, and other countries as well.
“We appreciate Ohio's strategic location, workforce and pro-business environment in making this decision to open our North American facility,” said Cao Dewang, Chairman of Fuyao. “We are making such an investment in Moraine to better service our important OEM customers in the United States and North America.
The company, which is headquartered in Fuzhou, China and employs more than 18,000 workers globally , plans to use its new Moraine facility to supply its growing U.S. customer base, including GM, Chrysler, Hyundai, Honda and Kia.