Shintech plans $3.4 billion expansion of Iberville plastics plant, 163 new jobs [Yahoo! Finance]
SHIN-ETSU CHEM UNSP/ADR (SHECY)
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Source: Yahoo! Finance
Shintech, the world's largest producer of polyvinyl chloride and PVC products, will spend $3.4 billion investment to build two component manufacturing units at its facility in Plaquemine, according to Louisiana Economic Development. The expansion will include 163 new jobs with an average annual salary of more $117,000, state officials said. Shintech already employs 725 people at its sites in Iberville and West Baton Rouge parishes. The first phase of the expansion is expected to be complete in 2030, officials said. “Shintech's decision to make a $3.4 billion reinvestment after 25 years in our state speaks volumes,” Gov. Jeff Landry said in a statement. “This expansion strengthens one of the world's leading process industries hubs and reinforces Louisiana's role as a global industrial powerhouse.” State officials have offered Shintech a $23.5 million grant for equipment purchases and infrastructure improvements that depend on the company meeting performance goals, primarily hitt
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