RELATED: World watches as Fuyao makes historic investment
“I don’t think any other company can do the same things that we’re doing,” Liu said.
Fuyao Global Chairman Cho Tak Wong, a Chinese billionaire industrialist, bought the former General Motors assembly plant in the spring of 2014 in an investment observers hailed as historic. The company has said it has invested more than $600 million in the plant and a raw glass supply operation in Mount Zion, Ill.
But there have been growing pains. A pair of top American Moraine managers were let go last November, and Liu said shortly after his appointment that the company had lost about $90 million in two years.
Earlier this year, in its annual report, Fuyao Global said the parent company was profitable even as Fuyao’s Moraine operation lost $41 million in 2016.
That is being turned around, leaders said.
“I have a great chance to break even this year,” Liu said, before adding minutes later: “I have no choice. I have to do it.”
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