Samsung Investing $380M in Newberry, US Creating 950 Jobs

News Image

MG News | June 29, 2017 at 09:53 AM GMT+05:00

COLUMBIA, S.C. — Samsung is investing $380 million in South Carolina to manufacture home appliances, creating an estimated 950 jobs over the next three years. State and company officials said Wednesday that Samsung is locating in the former Caterpillar plant in Newberry. Production is expected to start early next year. The company says "premium home appliances" made in Newberry will include washing machines. An event was to be held later Wednesday to celebrate the announcement.

Samsung Electronics America CEO Tim Baxter says the investment represents the South Korean company's commitment to expanding its U.S. operations. Samsung already operates a call center in Greenville County employing 800 people. Gov. Henry McMaster says Samsung's decision will ``change the very fabric of the Newberry community.'' Rural Newberry County is home to fewer than 40,000 people.

Related News

Name Price/Vol %Chg/NChg
KSE100 180,311.22
226.16M
0.26%
464.53
ALLSHR 108,988.15
742.11M
0.19%
210.19
KSE30 53,712.97
107.10M
0.26%
141.89
KMI30 253,344.42
99.86M
0.13%
336.70
KMIALLSHR 69,777.40
347.06M
0.07%
49.86
BKTi 52,120.98
29.49M
-0.11%
-57.24
OGTi 35,688.44
8.69M
0.48%
169.54
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 64,345.00 64,345.00
63,580.00
745.00
1.17%
BRENT CRUDE 89.25 90.07
88.10
0.34
0.38%
RICHARDS BAY COAL MONTHLY 105.50 0.00
0.00
-4.45
-4.05%
ROTTERDAM COAL MONTHLY 122.75 123.00
122.75
0.65
0.53%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00
0.00
0.00%
CRUDE OIL - WTI 83.67 84.35
82.46
0.47
0.56%
SUGAR #11 WORLD 17.05 17.05
16.68
0.32
1.91%

Chart of the Day


Latest News
August 12, 2026 at 04:47 PM GMT+05:00

Gold price in Pakistan rises Rs4,200 per tola


August 12, 2026 at 04:33 PM GMT+05:00

Pakistan's oil output slips 3%, gas production climbs 4% WoW


August 12, 2026 at 04:24 PM GMT+05:00

PKR extends gains, closes at 277.66 against USD


August 12, 2026 at 04:10 PM GMT+05:00

PSX Closing Bell: Bulls Triumph



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg