Project Bulletin: April 1, 2024

Florence County secures its second reinvestment from AESC in less than a year.

Photo by Kajdi Szabolcs

Automotive Energy Supply Corporation (AESC) has $1.5 billion plans to add its second EV battery manufacturing facility in South Carolina. The new plant will be located on AESC’s 1,000-acre site at Florence Global Technology Park in Florence County. This news comes months after the company began construction on the first lithium-ion battery plant in June 2023. “We greatly value our partnership with South Carolina and Florence County as we strengthen our work together through this latest expansion that enhances our commitment to create high-value jobs in the region and invest in the state,” said AESC CEO Shoichi Matsumoto. “South Carolina is a crucial part of our strategy to power next-generation electric vehicles for customers across the U.S. by manufacturing high-performance, longer-range EV batteries locally.” By 2027 AESC plans to begin operations, creating over 1,000 new jobs.

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Kuraray aims to reduce global food waste and its new investment in Singapore supports access to markets throughout Asia.

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Japanese plastics and chemicals manufacturer Kuraray is on a mission to boost its global capacity by 30% over the next two years. The company’s first move will be to establish a $410 million food packaging manufacturing facility in Singapore. Here the company will produce its EVOH material, a proprietary resin that more efficiently prevents food from spoiling or oxygen exposure. This is the first time the company will produce this material in Southeast Asia, anticipating capacity for 54,000 tons annually. This investment is the starting point of the company’s global expansion plans. Kuraray is also expanding in Houston, Texas, and Antwerp, Belgium.

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Sandoz plans to invest more than $200 million at the Kundl site over the next few years.

Photo courtesy of Sandoz

A $50.5 million investment will be used to construct a new antibiotics manufacturing facility in the western Austria town of Kundl in the state of Tyrol. The project comes from Switzerland-based pharmaceutical company Sandoz, which will boost production capacity by 20% per year. The 32,291-sq.-ft. plant is to produce 1 billion penicillin tablets and double Sandoz output of powder oral suspension, used for pediatric medicines. “Kundl, as the hub and center of our antibiotic production, is a true lighthouse project when it comes to the security of antibiotic supply,” said Sandoz CEO Richard Saynor. “This investment is our contribution to fighting shortages and increasing access for patients. To be successful in the future, we need to join forces across healthcare systems and build a sustainable market environment for generic medicines, focused on what is best for patients.”

Reports compiled and written by Alexis Elmore, edited by Adam Bruns