Rearview mirror supplier, Samvardhana Motherson Reflectec (SMR), says it is expanding its Marysville, Michigan, SMR Automotive Systems USA plant.
The company will invest US$40m in a 30,000 square foot expansion that is expected to result in the creation of around 350 jobs during the next three years.
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Plans for the Marysville expansion include the addition of a new paint line doubling current capacity, additional office space, and new moulding equipment.
SMR is also scheduled to acquire a 100,000-square-foot building in the City of Port Huron to serve its warehousing and distribution needs.
The investment will see SMR almost double its capacities to produce rear view mirrors for the North American automotive industry.
“The partnerships SMR shares with the State of Michigan, St. Clair County and the City of Marysville are prime example [s] of how community and the business enterprise can come together and collaboratively create opportunities resulting in [the] revival of [the] manufacturing sector in [the] United States,” said SMR COO, Char Zawadzinkski.
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By GlobalDataThe investment is supported by the state and local incentive packages, with The Michigan Strategic Fund Board approving a grant from the Michigan Business Development Fund.
“The country, community and the company stood strong during the economic downturn, now it is time to prosper,” said SMR USA managing director, Sai Tatineni.
Signed into law by Governor Rick Snyder in December 2011, the Michigan Business Development Programme provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses needing additional assistance for deal-closing and for second stage gap financing.
