(Reuters) -Kleenex tissue maker said on Thursday it would invest $2 billion over five years to expand its manufacturing capacity in the United States amid a push for local manufacturing under U.S. President Donald Trump. The Trump administration’s efforts to impose import taxes on goods from major U.S. trading partners are prompting companies to reconsider […]
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Kimberly-Clark to invest $2 billion to bulk up US manufacturing
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(Reuters) -Kleenex tissue maker said on Thursday it would invest $2 billion over five years to expand its manufacturing capacity in the United States amid a push for local manufacturing under U.S. President Donald Trump.
The Trump administration’s efforts to impose import taxes on goods from major U.S. trading partners are prompting companies to reconsider their supply chains to avoid increased costs.
The company said the investment will focus on two facilities: an advanced manufacturing facility in Warren, Ohio, and an expansion of a distribution center in South Carolina.
The company, which also produces Huggies diapers, expects to create more than 900 jobs in industrial automation and advanced manufacturing. Kimberly-Clark employed about 38,000 people globally as of December 31.
Last week, Kimberly-Clark cut its annual profit forecast and said it would incur about $300 million in costs due to tariffs.
While the company manufactures the vast majority of its products domestically, imports from Canada, Mexico and China represent less than 10% of the U.S. cost of goods sold, Kimberly-Clark has said.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Tasim Zahid)