MINTH GROUP (00425) announced that on August 3, 2026, the group, together with the City of Gadsden, held a groundbreaking ceremony for its new production facility in Gadsden. The project will be developed on a site spanning approximately 400 acres, previously occupied by Republic Steel and Gulf States Steel. The group expects to invest a total of about $430 million in the project in phases. Upon completion and full production, the facility is projected to create over 1,300 jobs and become the group's largest plant site globally.
Representatives from the group, the U.S. Congress, the State of Alabama, the City of Gadsden, the Gadsden-Etowah Industrial Development Authority, and other local stakeholders attended the ceremony. The group views the groundbreaking as a significant milestone in its ongoing development. This project will establish a flagship manufacturing base for further growth in the U.S. and underscores the group's commitment to expanding its localized production layout and serving regional customers. This marks another important step in the group's global development journey, with first-phase production expected to commence in 2027.
Since acquiring the site in March 2026, the group has advanced preparations and redevelopment work to transform it into a modern automotive manufacturing facility. The design reflects a strong commitment to environmental stewardship, incorporating sustainable manufacturing processes to minimize its ecological footprint. The project is expected to boost employment, industrial development, and the ongoing revitalization of the former steel mill site, fostering economic growth in Gadsden, Etowah County, and even northeastern Alabama.
The group operates two main business segments: research and development, production, and sales of automotive parts and tooling molds. The automotive parts segment includes products such as metal and trim, plastic parts, aluminum parts, and battery boxes. The tooling and mold business covers various molds, inspection tools, and fixtures used in the development, processing, and production of automotive exterior parts and body structural components. The group is also actively exploring new tracks and products, focusing on developing a second growth curve. It is intensifying research and development in emerging fields such as artificial intelligence, robotics, the low-altitude economy, and smart mobility.
As a global supplier, the group has established a network for R&D, design, production, and sales across Canada, China, France, Germany, Japan, Mexico, Poland, Serbia, South Korea, Thailand, the Czech Republic, the United Kingdom, and the United States. The group has initiated highly vertically integrated capacity planning and feasibility analysis at the site, covering all four of its product lines: body structure products, plastic parts, aluminum parts, and metal and trim parts. The group has also begun planning capacity for new-track-related businesses at the site, based on customer requirements and potential new order opportunities.
The board believes this project will further strengthen the group's manufacturing footprint in North America, enhancing its ability to provide localized production and services to customers in both traditional automotive parts and new product areas. This, in turn, will support the group's long-term business development in the region. The project is also expected to aid in the site's redevelopment and create broader economic opportunities for Gadsden, Etowah County, and northeastern Alabama.
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