Korean tractor builder to invest $20 million in Georgia

South Korean agricultural equipment manufacturer TYM Group announced a major investment to expand its North American market share through large scale expansion of its production facilities in the U.S.

TYM said it is investing on a large-scale expansion of its Rome, Ga., tractor manufacturing facilities. (Photo: TYM)

Through North American subsidiaries TYM-USA and Branson, the company plans to invest more than $20 million into manufacturing facilities in Rome, Georgia.

The investment plan includes the construction of a 142,500 sq. ft. factory on TYM’s 900,000 sq. ft. factory grounds in Rome. The expansion of the current parts center and the establishment of the TYM Technology Institute (TTI) for service education were also included in the investment plan.

TYM said it has completed negotiations with the Georgia state government and that it will begin the factory design work this month, 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, said it plans to increase its annual tractor production in North America from 30,000 to 50,000 units through this newest investment plan. In addition, TYM will establish assembly lines for local tractor production in North America by expanding its current semi knock down (SKD) assembly lines into complete knock down (CKD) facilities. The South Korean tractor manufacturer aims to dramatically enhance product quality while improving parts supply and service to more than 300 dealerships in North America and expand its customer contact points.

TYM Group said it currently has a total manufacturing market share of more than 10% in the North American tractor market under 100 hp. It said its exports to North America over the past five years have grown from $150 million in 2017 to $330 million in 2021. The tractor manufacturer aims to export more than $470 million in 2022, a 41% increase from the previous year.

It is TYM’s 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 major investment to support its rapid growth in the market.