TEMPLE EDC and City of Temple Announce $110M Investment Plan from South Korean Company into Temple, TX

TEMPLE, Texas, July 9, 2024 /PRNewswire/ -- Temple EDC and the city of Temple announced today that SeAH Superalloy Technologies, a new manufacturing corporation for special alloy which was incorporated by SeAH Changwon Integrated Special Steel (SeAH CSS), a leading manufacturer of high-tech industrial materials and its holding company, plans to invest $110 million in a high-performance metal manufacturing facility in Temple, Texas. This project is expected to create 100 full-time jobs. The facility will be located on 45 acres in Temple's Industrial Park, off of Moores Mill Rd. Construction is slated to begin in Q3, 2024, with commercial production beginning Q1, 2026. This plant will be the first special alloy manufacturing facility built in the U.S. by a South Korean company. The project was officially announced on July 9^th in Seoul, during a well-attended press conference hosted by the Texas Governor's office.

"We are thrilled to welcome SeAH Superalloy Technologies to Temple, TX. This project is a testament to the strength of our region in attracting foreign direct investment (FDI), which will further bolster Temple's economic growth and global connections. Temple's strategic location and robust infrastructure continue to attract world-class companies like SeAH group, reinforcing our position as a prime destination for business growth and innovation," said John Howe, Chairman of the Board for the Temple Economic Development Corporation.

"The City of Temple is delighted to welcome SeAH Superalloy Technologies to our dynamic business community. This significant investment and the creation of well-paying jobs underscore Temple's status as a thriving economic hub. We anticipate the positive impact this project will bring to our residents and local economy and embrace SeAH Superalloy Technologies as part of our community," said Tim Davis, Mayor of Temple.

"We are excited to establish our new facility in Temple, Texas. This strategic location will enable us to better serve our North American customers and expand our global footprint. We look forward to becoming an integral part of the Temple community and contributing to its economic growth," said Junghoon "Jay" Lee, CEO of SeAH Changwon Integrated Special Steel.

Pending final negotiations with Temple EDC and the City of Temple, this new facility will mark a significant milestone in the ongoing growth and development of Temple's industrial sector. SeAH CSS, a subsidiary of SeAH Group since 2015, is Korea's leading manufacturer of high-tech industrial materials, including stainless steel, tool steel, and carbon alloy steel. The company's commitment to top-tier quality assurance and customer-centric service is demonstrated by its ISO 9001 certification.

SeAH Superalloy Technologies is making a deeper foray into the U.S. specialty alloys market with its new facility, which is expected to produce 6,000 tons of special alloys annually. These high-performance materials will cater to industries such as aerospace, power generation, automotive and oil & gas. The facility will also position SeAH Superalloy Technologies as a key supplier to major U.S. companies, including companies in the aerospace industry, enhancing its presence in the high-tech industrial materials sector.

"Texas is the premier destination for business growth, which is why companies from across the globe continue to choose our state to expand their operations," said Governor Greg Abbott. "SeAH Group's $110 million investment in Temple is a testament to the unique and unmatched business opportunities the Lone Star State has to offer businesses. I look forward to welcoming SeAH group's new manufacturing facility to Texas and continuing to work with them to bring even more investments and jobs to our state."

For more information about SeAH CSS, visit www.seahss.co.kr.

ABOUT TEMPLE ECONOMIC DEVELOPMENT CORPORATION
The Temple Economic Development Corporation (Temple EDC) is a nonprofit organization that serves as the designated economic development entity for the City of Temple, Texas. Temple EDC strengthens relationships, builds partnerships, and provides solutions that cause entities to choose Temple. To learn more about doing business in Temple, visit TempleEDC.com.

ABOUT THE CITY OF TEMPLE
Temple, located 45 minutes north of Austin, offers the perfect compromise between welcoming small-town living and the hustle of a big city. Striking a balance between vibrancy and livability, Temple continues to grow its amenities for residents, while maintaining a safe, family-friendly, caring culture. Whether it is the scenic parks and trails, the family friendly atmosphere, or the unique neighborhoods with Texas charm, we think you will find something here that you love! Our vision is for Temple to be a place that you love to call home. Visit templetx.gov for more information.

ABOUT SEAH CHANGWON INTEGRATED SPECIAL STEEL (SEAH CSS)
SeAH Changwon Integrated Special Steel (SeAH CSS), a subsidiary of SeAH Group since 2015, is Korea's leading manufacturer of high-tech industrial materials. Located in Changwon, Gyeongnam, South Korea, the plant has an annual production capacity of 1.2 million tons and produces stainless steel, tool steel, carbon alloy steel, and more. SeAH CSS serves a wide range of industries, including automotive, machinery, aviation, nuclear energy, shipbuilding, and electronics. For more information, visit www.seahss.co.kr.

SOURCE Temple EDC