South Korea-Based Huvis and Thailand-Based Indorama Enter $48M Joint Venture
The two companies are investing $48M into new manufacturing operations in Spartanburg, South Carolina, which may create up to 50 jobs.
WASHINGTON – Nancy McLernon, president and CEO of the Organization for International Investment (OFII), issued the following statement after Senate passage of the Conference Report to the National Defense Authorization Act (H.R.5515), which contains the final version of the Foreign Investment Risk Review Modernization Act (FIRRMA):
“FIRRMA provides CFIUS with the tools it needs to safeguard U.S. national security and international companies with the certainty they need to feel confident about investing and growing jobs in the United States. As FIRRMA is implemented, it is critical that Treasury preserve the balance that Congress struck when it carefully refined this legislation. On behalf of the nearly seven million U.S. workers who are directly employed by international companies, I applaud Senators Cornyn, Burr, Crapo and Feinstein, as well as Representatives Hensarling, Barr, Royce and Pittenger for seeking the views of stakeholders, assessing the impacts of these reforms and building bipartisan consensus for this landmark legislation.”