New plant opens in Auburn area - WSFA.com Montgomery Alabama news.

New plant opens in Auburn area

HONAM Petrochemical Corporation held a grand opening Thursday for its manufacturing facility in Auburn, Alabama where it will produce resin materials. The company's first U.S. manufacturing operation was formed under the name of HPM Alabama Corporation and occupies an existing facility at 765 West Veterans Boulevard in the Auburn Technology Park North. Approximately 30 jobs should be created.

HONAM Petrochemical Corporation is part of the Lotte Group. With annual revenue of approximately $50 billion U.S. dollars and 35,000 employees, the Lotte Group is the 5th largest conglomerate in Korea. HPM Alabama Corporation has initially invested an estimated $9.25 million dollars with the creation of 30 jobs, and will also collaborate with Auburn University for R&D projects.

"Over the past 30 years Auburn has welcomed a number of the world's great companies, and we're excited to welcome HPM Alabama among them," said Auburn Mayor Bill Ham. "We recognize that success for HPM Alabama is success for Auburn," Ham added. 

Key speakers at the ever were Korean Consul General He Beom Kim, HPM's President Kyungil Lee and Honam Petrochemical President Soo Young Huh, who commented: "While our initial investment here in Auburn is relatively small, HPM Alabama Corporation is very important for the Lotte Group." Mr. Huh also personally thanked ADO Director Greg Canfield and his team, and Auburn Mayor Bill Ham and his team for their support to realize this project.

HPM Alabama Corporation is a manufacturer of base material used by injection molding companies, representing a new type of manufacturing industry locally.

INFORMATION SOURCE: City of Auburn

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