German automotive supplier Schaeffler has announced that it is investing a further $60mn into its Ohio facility, commemorating the 40th anniversary of the automotive campus.
The investment will establish it as the US center for advanced electric vehicle development, allowing the company to both streamline its operations and prepare for its future operations.
“Schaeffler's $60 million capital investment in its Wooster facility advances our automotive business and strongly secures our position as the community's largest employer," said Marc McGrath, President of Schaeffler US. “From 2007 to 2016, our automotive business has outpaced market growth by nearly double and we have expanded our manufacturing capacity in Wooster to keep pace with growth in our automotive transmission business."
“This latest investment, which builds upon our recent $36.5 million expansion of our Fort Mill, S.C. facility, prepares us for the production of future transmission technologies and further optimizes the facility's vertical integration.”
The renovation will now enable Schaeffler to produce hybrid vehicles that will be released to the public in 2018 - a critical part of the company's strategy of developing electric vehicles.
“Our investment in Wooster, Ohio is another milestone in implementing our strategy ‘Mobility for tomorrow’. Wooster will become our U.S. center for advanced E-Mobility development and will continue shaping mobility through innovation and employee development,” said Schaeffler Group CEO, Klaus Rosenfeld. “This new, state-of-the-art manufacturing facility is a testament to our commitment to attract and retain the best and brightest talent.”
Since first being opened 40 years ago, Schaeffler's Ohio facility has expanded 20 times, growing from 27,000 to 800,000 square feet.