Hanwha announces plans to expand, add jobs

By Beverly Harvey

Published: July 31, 2008

For the second time in less than a month, a company in Opelika has announced plans to expand.

On Tuesday, Korea-based Hanwha Alabama announced plans to add approximately 42,000 square feet to its 78,000-square-foot location in the Northeast Opelika Industrial Park.

Hanwha manufactures a number of products, including plastic floor materials, automotive components and packing materials.

Hanwha, formerly Maxforma Plastics, opened its existing Opelika facility in April 2005, Opelika Economic Development Director Al Cook said, adding that its parent company is one of the largest in Korea.

The $15 million planned Hanwha expansion is slated to be completed in early 2009 and will add approximately 45 jobs.

The expansion of an existing business base creates up to 80 percent of job growth, according to Opelika Economic Development Director Al Cook.

“The greatest testament to a city or area’s economic strength is its expansion of its existing business base,” Cook said.

| 737-2546