MORAINE, Ohio (WDTN) – The deal is done. Part of the former General Motors plant in Moraine now belongs to the Chinese automotive glass manufacturer, Fuyao.
Fuyao’s Chairman Cao says he closed the deal for $15 million to purchase a portion of the plant that Fuyao will occupy. The total investment in the property will be $200 million.
Fuyao will occupy about 1.4 million square feet of the north section of the plant. There will be a significant portion left over for future growth, either for Fuyao or other companies.
Governor John Kasich first made the announcement of Fuyao’s intentions in January. He said the company plans to invest $200 million and create about 800 new jobs over the next five years. Fuyao’s new facility will be the largest Chinese investment ever made in Ohio, according to the Governor.
Fuyao is headquartered in Fuzhou, China and employs more than 18,000 workers around the world. It has a distribution facility in Michigan and a business office in South Carolina. Ohio will be Fuyao’s first North American manufacturing site. The company plans to use its new Moraine facility to supply its U.S. customer base, including GM, Chrysler, Hyundai, Honda and Kia.
Chairman Cao expects the plant to be operational sometime next year. He expects to start hiring manufacturing positions in September.
2 NEWS Anchor Katie Ussin spoke exclusively with Fuyao’s Chairman Cao. Watch 2 NEWS at 5:00 to see the interview and learn more details about the deal and jobs to come.