Wednesday, May 18 2016
Attorneys with Parker Poe Adams & Bernstein and advisors with Parker Poe Consulting facilitated KSM Castings USA Inc. with finalizing plans for an $80 million expansion of the company’s casting facility in Shelby, NC. The German company will add as a first step a 50,000 square-foot building and 80 jobs to the $55 million, 120,000 square-foot plant it built in 2014 that currently employs about 130 people.
“This expansion solidifies our commitment to the region as a supplier of aluminum-cast auto parts for all major automakers,” said Franz Friedrich Butz, CEO of KSM Castings Group, the parent company of KSM Castings USA Inc., which is owned by CITIC Dicastal Co. Ltd. Of China.
“KSM Castings is a world-class, global player in the castings industry. KSM is leading the charge in bringing die casting expertise to the US market, and our team, including consultants with Parker Poe Consulting, is proud to support their efforts to make this happen,” said Sam Moses, Partner with Parker Poe and Co-Chair of the firm’s Business Incentives & Investment Group. “It is very unique to have a company that performs aluminum die casting in the Southeastern United States. This technology and competence is essential to the growth of the Southeast US automotive market,” he added.
"KSM Castings' decision to build on its presence here is another building block in the foundation of industrial and economic prosperity that foreign and domestic companies alike are creating here in the Carolinas. We're pleased and proud to have a role in this dynamic growth," says Mark Simmons, Principal with Parker Poe Consulting.
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