Manufacturing and Supply Chain Report for Oct. 1, 2020

SEC: BMW reports inflated sales numbers to investors

The Securities and Exchange Commission settled charges against BMW AG and two U.S. subsidiaries that accused them of inflating U.S. retail sales while raising $18 billion in bond offerings from investors. Reports show the misconstrued data helped close the gap between the actual retail sales numbers and internal targets, according to the SEC. (GSA Business Report)

Power tool company opening Ladson facility

Daye North America, an outdoor power tool manufacturer, plans to establish a national distribution center in Ladson. The company, which makes gas and battery-operated products, said proximity to the Port of Charleston figured into the decision to open the facility. (Charleston Regional Business Journal)

SKF consolidating North Charleston, Ohio plants to Sumter

The company, a global producer of precision bearings, is consolidating its North Charleston and Avon, Ohio, plants into its existing Sumter location. SKF plans to cut roughly 120 jobs over the next 12 to 18 months. (Charleston Regional Business Journal)

Project to boost access to smart manufacturing education

Educators in South Carolina and Florida are launching a $4 million Clemson University-based project designed to give students greater opportunity to learn the smart manufacturing job skills that are growing in demand. (GSA Business Report)

Tactical Medical Solutions plans to expand, generate 21 new jobs

Anderson County’s Tactical Medical Solutions plans to expand its production and research and development capacity through a $1.7 million investment. (GSA Business Report)

S.C. Ports sees further recovery amid pandemic

With August volumes trending upward, S.C. Ports Authority CEO Jim Newsome said the numbers reflect the port’s best year-over-year month since March, when the pandemic began impacting global supply chains. (Charleston Regional Business Journal)

Phase I of Lowcountry Leatherman Terminal on track to open March

The S.C. Ports Authority’s Hugh K. Leatherman Sr. Terminal is on track and within budget for a spring 2021 opening, according to the agency's board, and its five new cranes are currently crossing the ocean. The first of three phases will have been wrapped up in 32 months, with the site work and buildings finished in 18. (Charleston Regional Business Journal)

Lease brings Midlands Midway Logistics IV to full occupancy

TreeHouse Foods leased 150,000 square feet in the Lexington County Industrial Park building. Magnus Development Partners plans immediate construction on a new speculative project, Midway Logistics VI, in the park. (Columbia Regional Business Report)