Report: Samsung to relocate oven production from Mexico to US
Samsung Electronics Co. is in late-stage discussions to invest about US$ 300 million and create 500 jobs at a former Caterpillar factory in Newberry, South Carolina, where it plans to relocate some production of oven ranges now made in Mexico, revealed today The Wall Street Journal.
The report cited unidentified people who are familiar with the deal. An announcement from South Korea-based Samsung could come by next week, the Journal said.
Caterpillar announced last year it would close the Newberry plant by late 2017 and move the work Texas, Indiana and Georgia under a cost-cutting plan.
The South Carolina Department of Commerce declined to comment on the report.
Samsung operates two manufacturing sites in Mexico. In Tijuana, the company produces Smart TVs and LCD screens at a facility with capacity for 18 million pieces a year.
Another facility in Queretaro builds side-by-side refrigerators, front-loading washing machines and other high-end appliances.