Fuyao Glass' $300 Million Expansion Project in the US to Be Completed by Year-End

TapTechNews August 15th news, Ye Shu, the general manager of Fuyao Glass, announced in the '2024 Semi-annual Fuyao Performance Explanation Meeting' held today that the $300 million (TapTechNews note: currently about 2.143 billion RMB) expansion project of Fuyao in the US is expected to be completed by the end of the year.

TapTechNews learned that Fuyao Group acquired the former General Motors assembly plant in the Moraine area of Dayton, Ohio, USA in 2014 and transformed it into a 180,000-square-meter glass design and manufacturing plant, which started operation in 2015.

Ye Shu claimed that the expansion work of the Fuyao US plant is currently progressing as planned, expected to be completed by the end of the year and then enter the stage of glass mass production, and currently the production and operation status of Fuyao US company is all normal.

According to another TapTechNews report on July 28th, several US law enforcement agencies including the US Department of Homeland Security conducted an investigation on the 'financial crime and labor exploitation allegations' against the Fuyao Glass Dayton plant on July 26th. At about 5 pm on the same day, after the US government agencies completed their on-site work and left, the production part of Fuyao US was suspended on that day, but the cargo transportation and delivery were not affected, and normal operations have resumed after the search ended.