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

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

0:00

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	172,400.73 346.40M	0.92% 1570.51
ALLSHR	103,483.96 796.97M	0.55% 561.58
KSE30	52,734.06 184.56M	1.08% 564.57
KMI30	245,565.33 110.97M	1.07% 2605.02
KMIALLSHR	67,233.70 319.67M	0.68% 453.28
BKTi	47,898.10 95.85M	0.98% 462.51
OGTi	33,838.49 13.78M	1.39% 464.88

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,840.00	90,115.00 86,915.00	90.00 0.10%
BRENT CRUDE	60.64	62.67 60.56	-1.60 -2.57%
RICHARDS BAY COAL MONTHLY	87.50	0.00 0.00	1.05 1.21%
ROTTERDAM COAL MONTHLY	94.50	0.00 0.00	-0.70 -0.74%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	56.73	58.88 56.65	-1.62 -2.78%
SUGAR #11 WORLD	15.17	15.28 15.08	-0.12 -0.78%