IKO Announces $360+ Million Projects in South Carolina
Glass Manufacturing and Glass Mat Facilities to Supply IKO's US Shingle Operations
WILMINGTON, Del., Feb. 22, 2023 /CNW/ - IKO, a North American pioneer in the manufacture of residential and commercial roofing products, announced today in a joint press conference with the State of South Carolina that the company will be constructing two new manufacturing sites in Chester County.
The two projects will include the acquisition of a site on Lancaster Highway outside of Chester, which will become a new fiberglass manufacturing facility. The second project, located about a quarter mile away, will use the fiberglass plant's output to manufacture fiberglass mat in a new, 325,000 square foot state-of-the-art plant. Glass mat is a vital component in asphalt shingle production, and the mat plant will supply IKO's growing network of shingle manufacturing sites in the United States.
The two plants will represent more than a $360 million investment by IKO and will create nearly 200 local jobs in the community. The company expects to complete construction of the facilities and commence production by late 2025.
The press conference, held at IKO's newly acquired Lancaster Highway site, included remarks from South Carolina Governor Henry McMaster, who congratulated IKO on its arrival in the state.
"IKO is very pleased to be opening its first wholly owned glass and glass mat facilities in South Carolina," stated David Koschitzky, CEO for IKO. "This is just the latest of many significant investments IKO has made to support a growing US market presence. We are tremendously gratified by the warm welcome we have received from the state and local governments, and as a family run business look forward to being part of the Chester County business community family for many years to come."
IKO is a world-wide leader in the roofing, waterproofing and insulation industry for residential and commercial markets. A vertically integrated company, IKO operates more than 35 manufacturing plants throughout North America and Europe. IKO is a family-owned business established in 1951.
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SOURCE IKO INDUSTRIES INC.
Derek Fee, Manager - Corporate Communications, 1-416-780-5898, Email: [email protected]
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