TYM PLAN TO INVEST $20M IN PRODUCTION FACILITIES

It has been announced that tractor maker TYM Group's North American subsidiaries, TYM-USA and Branson, plan to expand their North American market share through large-scale investment into production facilities in the United States.

On May 20th, the South Korean based TYM revealed its plans to invest more than 20 million dollars into manufacturing facilities in Georgia, USA by joining forces with its two North American subsidiaries.

The investment plan announced included the construction of a 142,500 square feet factory equipped with the latest cutting-edge manufacturing technology on TYM's 900,000 square feet factory grounds in Rome, Georgia. The expansion of the current parts centre and the establishment of the TYM Technology Institute (TTI) for service education were also included in the investment plan.

TYM announced that it has completed negotiations with the Georgia state government and that it will begin the factory design work in May, with the goal of completion in June 2023. "We expect to create more than 150 jobs within the state of Georgia through this investment," a TYM representative said.

TYM, which currently has production facilities in four states in the USA, plans to increase its annual tractor production in North America from 30,000 to 50,000 units through this newest investment plan. 

TYM Group is currently among the top five tractor manufacturers in North America, with total manufacturing market share of more than 10% in the North American tractor market under 100HP. 

The company say it is their ambitious plan to take the leap into becoming a top three brand in the North American market by launching the new TYM North America and expanding its production facility through this investment to support its growth in the market.