February 21, 2012

State of Alabama
Press Release: Alabama Department of Commerce

Daewon American To Continue To Grow in Opelika


OPELIKA, AL    At the Opelika City Council meeting last night, Mayor Gary Fuller announced that Daewon America would be adding another $13 million in capital for equipment and hiring 32 new associates.


Mayor Fuller expressed his gratitude to Daewon America for their continued growth in Opelika, “We are so pleased that Daewon is adding to their investment and bringing more employment opportunities to our citizens. When we were in South Korea last year, Councilman Joey Motley, Economic Development Director Lori Huguley and I spoke with Vice-Chairman Hur about continued investment and are pleased that Daewon’s business continues to thrive in Opelika and necessitates this additional growth.”


During the meeting the Opelika City Council passed a resolution granting approval for tax abatements for this new investment. City Council President Eddie Smith echoed Fuller’s appreciation to Daewon, “I, along with the City Council, are thankful to Daewon for this additional investment and the new jobs they are creating.”


Governor Robert Bentley commented on the expansion, “I am proud of the relationship that the State and the City of Opelika have established with Daewon America and the jobs the company has already brought to the Lee County area," he said. “Daewon is a world-class operation that has been located in Opelika since 2007.  It is a testament to the state’s excellent business climate that the company continues to grow and prosper right here in our state.”


Alabama Development Office Director Greg Canfield recognized the importance of supporting existing industry: “Daewon’s announcement today reflects the strength of Alabama’s automotive industry and the cooperative relationships we have established that have resulted in continued growth. It is important that our existing industries be nourished so that they grow in Alabama. We have made this one of our top priorities. Congratulations to Daewon America and to residents of the Opelika area.”


Daewon America, Inc. is a division of Daewon Kang Up, one of the world’s largest manufacturer of coil spring and stabilizer bars. At the Opelika facility they produce suspension bars and coils to supply the automotive industry including Hyundai, Kia, GM and Chrysler.


This additional investment will bring the total capital investment Daewon America has made in Opelika to over $65 million. Their facility is located in the Northeast Opelika Industrial Park.


For more information about this company, please visit their website:  www.dwku.com


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