Governor John R. Kasich; Chairman & Founder of Fuyao, Cao Dewang; and President & Chairman of the Board of Industrial Realty Group, Stu Lichter, announce the opening of a new manufacturing plant in Montgomery County that will create 800 jobs.
Fuyao Glass Industry Group Co. Ltd will build its first North American automotive glass manufacturing facility in the City of Moraine in Montgomery County, creating approximately 800 new jobs over the next five years. The $200 million investment breathes new life into a former General Motors assembly plant and reaffirms Ohio's dominance in the automotive industry.
Dewang joined Kasich in the historic Governor's Cabinet Room to sign the paperwork affirming Fuyao's intent to purchase the plant from its current owner, Industrial Realty Group. Fuyao selected Ohio for its first North American manufacturing plant over competitive proposals from states across the Midwest and South. The complex deal was brokered by JobsOhio.
Fuyao's new facility will be the largest Chinese investment ever made in Ohio. According to the foreign investment tracking organization FDI Markets, it will also be the largest Chinese investment ever made east of the Mississippi River and the largest Chinese automotive industry investment ever made in the U.S. since records have been kept (2004, FDI Markets).
Fuyao is the largest automotive glass supplier in China with 65 percent of the market and 18 percent of the global automotive glass market. The company currently has a presence in the U.S., Germany, Russia, Japan, South Korea, Australia, Brazil, and many other countries in the world.
The company plans to acquire over 1.0 million square feet of the former GM Moraine plant and will begin glass manufacturing by the end of 2015. The project will move forward upon finalization of the due diligence process on the building and approval of federal, state and local incentives.
Fuyao, headquartered in Fuzhou, China, employs more than 18,000 workers globally and plans to use its new Moraine facility to supply its growing U.S. customer base, including GM, Chrysler, Hyundai, Honda and Kia.