Acquisition brings new jobs, $2 million investment to Sbg. | Spartanburg Business
SPARTANBURG — Another global company is headed to Spartanburg County, bringing dozens of jobs and millions of dollars.
A group of investors in South Carolina led by Boyd Cycling, a Greenville-based high-end bicycle wheel manufacturer, has acquired Munich Composites GmbH, which builds carbon fiber bicycle rims.
The acquisition of the German manufacturer will create 32 jobs with a nearly $2 million investment in Spartanburg County. It has also created a new company, Munich Composites SC, that will expand production into Spartanburg County with a new Landrum facility and continue to produce carbon fiber bicycle rims in Europe.
“I welcome Munich Composites to Spartanburg County and I’m eager to see the type of success they establish in our community,” David Britt, Spartanburg County Council vice chairman and Economic Development Committee chairman, said in a released statement.
The Landrum facility that will bring Munich Composites GmbH’s patented braided carbon fiber rim manufacturing process and products stateside is a collaboration with Clemson University, Cardinal Cycling Group, and the SC Fraunhofer Alliance.
It is along the 31-mile Saluda Grade Rail Trail and will be operational beginning by the middle of this summer.
Boyd and Nicole Johnson of Boyd Cycling, company co-founders, lead the South Carolina-based ownership group along with Cardinal Cycling Group and other investors.
“Our goal is to provide a competitive solution to cycling brands for high performance, domestically produced, carbon fiber rims on both sides of the Atlantic and at very competitive pricing as compared to landed cost pricing from Asia,” Boyd Johnson said in a statement.
The two founded the company in 2009. It now serves thousands of customers across the world and has wheels in more than 450 bike stores.
European production will also expand to serve new and existing customers in the market.
Numerous other global companies have made recent multi-million dollar investments in Spartanburg County. It has almost become a monthly occurrence.
Omron, a Japan-based global automation solutions provider, announced a $9.2 million investment in the county in early February. It will create 80 jobs this summer and 162 within five years.
A Switzerland-based payment solutions provider, Matica Group, announced a $2 million investment and the creation of 40 jobs in early March.
One of the county’s biggest employers is also foreign-based. BMW Manufacturing, based out of Germany, employs 11,000 workers at its 8-million-square-foot Spartanburg County campus.
Britt said it is exciting to add another global manufacturer to one of the fastest-growing regions in the nation.
“Spartanburg County has been able to recruit globally renowned manufacturers for years now, and it’s truly exciting to see our community bring in advanced manufacturing for world-class cycling,” he said.
