TYM Invests $20 Million in Georgia, USA Facility... "Aiming to Become a Top 3 Brand in the North American Market"

Aerial view of the TYM site in Georgia, USA. [Photo by TYM]

[Asia Economy Reporter Kwak Min-jae] Agricultural machinery company TYM announced on the 20th that its North American subsidiary TYM-USA and Branson are jointly investing $20 million (approximately 25.3 billion KRW) in facilities in Georgia, USA. This is interpreted as a move to stably support the steep growth of the North American business and leap to become a top 3 brand in the North American market.

TYM plans to expand its latest production facility by 4,000 pyeong and increase its parts center on a site of about 25,000 pyeong it owns in Rome, Georgia. The company also plans to establish a new T.T.I (TYM Technical Training Institute) for service education. Consultations with the Georgia state government regarding the facility investment have been completed, and design work will begin in May this year with the goal of completing the expansion of the Rome factory by June 2023.

Through this investment, TYM plans to increase its annual North American tractor production from 30,000 units to about 50,000 units. The partial assembly production line will be expanded to a full assembly production level facility, securing an assembly line capable of local production in North America. Through this, TYM aims to dramatically improve the product and parts supply system and service level for about 300 dealers in North America, thereby expanding customer touchpoints.

The TYM Group holds more than a 10% market share in the North American tractor market for tractors under 100 horsepower. Thanks to the strong performance of TYM’s North American subsidiary TYM-USA and Branson, the North American subsidiary of Kukje Machinery, TYM’s North American exports increased from $150 million in 2017 to $330 million in 2021, recording an average annual growth rate of 17%. This year, exports are expected to reach $470 million, a 41% increase compared to the previous year.

A TYM official said, “With this North American investment expansion, we expect to provide customers with excellent TYM products and services and deliver trust and business value to our business partners.” He added, “We are honored that the decision for large-scale facility investment in Georgia, timed with U.S. President Biden’s visit to Korea, will contribute to cooperation between the two countries.”

This content was produced with the assistance of AI translation services.