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

News Image

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 189,166.83
407.93M
0.79%
1478.66
ALLSHR 112,809.65
875.49M
0.16%
181.96
KSE30 58,207.71
147.51M
1.27%
729.47
KMI30 269,497.03
190.79M
1.15%
3053.85
KMIALLSHR 72,828.34
555.24M
0.32%
235.69
BKTi 53,520.37
33.89M
-0.06%
-32.37
OGTi 38,886.75
10.61M
-1.00%
-393.22
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 89,340.00 0.00
0.00
-160.00
-0.18%
BRENT CRUDE 66.29 66.30
64.29
2.23
3.48%
RICHARDS BAY COAL MONTHLY 86.75 0.00
0.00
-3.00
-3.34%
ROTTERDAM COAL MONTHLY 98.50 0.00
0.00
-0.30
-0.30%
USD RBD PALM OLEIN 1,027.50 1,027.50
1,027.50
0.00
0.00%
CRUDE OIL - WTI 61.28 0.00
0.00
0.21
0.34%
SUGAR #11 WORLD 14.73 14.98
14.72
-0.23
-1.54%

Chart of the Day


Latest News
January 24, 2026 at 11:34 PM GMT+05:00

Weekly Market Roundup


January 24, 2026 at 05:21 PM GMT+05:00

CDNS revises profit rates on National Savings Schemes


January 24, 2026 at 12:03 PM GMT+05:00

Money supply nears Rs47tr as of Dec


January 24, 2026 at 11:02 AM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


January 23, 2026 at 05:03 PM GMT+05:00

PSX Closing Bell: Easy Does It



Top 5 things to watch in this week

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