German automotive supplier Dr. Schneider Automotive Systems is planning to establish a new plant at Russell Springs, Kentucky in the US with investments of over $29m.
The new plant is expected to meet the increasing customer demand and will manufacture automotive parts for companies including Ford, GM, BMW, Mercedes-Benz and Volkswagen.
Dr. Schneider board of directors member Wilhelm Wirth said the company choose Russell Springs at the end of an intensive selection process where it checked 69 locations.
"The professional cooperation with the local and state business development departments confirmed our decision as well," Wirth added.
The new plant is expected to further strengthen the region's auto industry, which currently includes over 450 motor vehicle-related facilities.
Kentucky Governor Steve Beshear said Dr. Schneider Automotive Systems will only add to the regions automotive industry and foreign direct investment, which are both vital components of its growing economy.
"We welcome Dr. Schneider to Russell Springs, and are excited to see 155 new jobs and an investment of more than $29 million in the Commonwealth," Beshear added.
The new plant, which will process plastics and produces vent as well as trim systems, will represent third German-owned company to be established in the region during 2013.