BMW Manufacturing to Invest $50 Million in Union County
BMW Manufacturing Co. will invest about $50 million in the LSP Automotive Systems sheet metal stamping facility located in Commerce Park in Union, S.C.
LSP will manufacture the molds of a new vehicle that will be produced at BMW Manufacturing beginning in 2008. The molds will be used to produce sheet metal stampings for the exterior of the vehicle. The $50 million will be used to buy the molds, which will be owned by BMW. LSP will invest $96 million in its equipment and facility.
The LSP investment is expected to generate 130 new jobs in Union County and will make BMW and LSP the county’s largest taxpayer, paying an estimated $2 million per year beginning in 2008, according to county officials.
BMW Manufacturing Co., a subsidiary of the BMW Group based in Munich, Germany, is the exclusive manufacturer of the Z4 and M Roadster, Z4 and M Coupe and the X5 Sports Activity Vehicle. Its website address is www.bmwusfactory.com. In addition to the South Carolina manufacturing facility, BMW’s North American subsidiaries include sales, marketing and financial services operations in the United States, Canada and throughout Latin America, and a design firm in California.