Samkee Corp., a South Korean automotive diecasting business, is establishing its first U.S. operation in Tuskegee, AL, a $128-million project that is scheduled to begin manufacturing in 2024.
“Alabama’s auto industry is filled with world-class manufacturing companies from around the world, and Samkee will fit right in with that group,” according to an announcement by Gov. Kay Ivey. “We’re proud that the company selected Alabama for its first U.S. production center and look forward to seeing it grow and thrive in the coming years.”
It's not known what incentives have been provided for the project, which is forecast to establish 170 new jobs. The governor’s office projected the new plant will generate $140.2 million/year in economic activity, contributing more than $37 million/year in GDP and generating $1.3 million/year in tax revenue.
Operating two plants in South Korea and a third one in China, Samkee diecasts aluminum transmission parts for Hyundai Motors and Kia Motors programs, including clutch housings, valve body sets, and transmission cases.
Hyundai Motors operates a vehicle assembly and engine manufacturing complex in Montgomery, AL.
Samkee CEO Chi Hwan Kim stated: “Our Tuskegee plant will allow our company to serve the North American market along with Hyundai’s market growth for both combustion engines and transmissions, as well as electric vehicle and battery parts.”
Source: Foundry Management & Technology