Timken Co. to reduce Gaffney workforce by 150

One of Gaffney’s largest industrial employers will reduce its workforce from about 550 to about 400 over the next several months. Timken Co. announced upcoming workforce reductions last week. (GSA Business Report)

IFA Group to expand Berkeley County facility, consolidate Lowcountry operations

German automotive supplier IFA Group is more than doubling its facility at the Charleston Trade Center in Summerville to allow the company to consolidate its S.C. operations into one location. (Charleston Regional Business Journal)

Charleston port receives shipment of 3 new cranes

The S.C. Ports Authority received three new, 155-foot cranes at the Wando Welch Terminal. The cranes, made by China-based Shanghai Zhenhua Heavy Industries Co. Ltd., will be assembled over the next several months, with the first expected to be online in January and the others by May. (Charleston Regional Business Journal)

Strategy Plastics expands in Anderson County

Strategy Plastics LLC, a full-service plastic injection molding company, has expanded in Anderson County. The company is investing more than $3.4 million and expects to create 81 new jobs, according to a news release from the S.C. Department of Commerce. (GSA Business Report)

REI Automation expanding Richland County operations

This is the fourth expansion of REI Automation’s assembly facility on Veterans Road in Columbia. The $3 million investment is expected to create 35 jobs. (Columbia Regional Business Report)

Santee Cooper pays off $360M in bond debt

The utility had faced $8 billion in debt, with half related to the failed V.C. Summer nuclear project. The payment is part of a business strategy that aims to reduce Santee Cooper’s nuclear debt by $925 million in the next 2 years. (Columbia Regional Business Report)

Milliken & Co. to host Commerce Department recycling matchmaker event
The S.C. Department of Commerce is hosting a Regional Recycling Matchmaker event from 8:30 a.m. to 3 p.m. on Thursday at Milliken & Co. in Spartanburg. (GSA Business Report)