A joint partnership company which manufactures fuel pumps will close its facility in Anderson County next year, affecting nearly 350 employees.
Associated Fuel Pump Systems Corporation (AFCO) was created as a joint venture in 1989 between the German electronics giant Bosch and Japanese auto parts manufacturer Denso. The venture’s sole factory is located in Anderson. A company spokeswoman said the venture will be dissolved by fall 2018.
The Anderson Independent-Mail first reported the move on Tuesday. The impacted plant is located near Interstate 85 roughly seven miles northeast of Anderson.
A company spokeswoman said in an email that the partnership is dissolving due to increased competition and increasingly isolated work by each parent company. “While both Bosch and Denso remain committed to overall growth in the United States, the business realities specific to the fuel pump market led to the decision to end the AFCO venture,” Linda Beckmeyer wrote.
Roughly 346 employees will be affected by the venture’s termination. Those employees will be offered a chance to stay at their parent companies or receive a severance package. However, Denso is moving its fuel pump operations to an existing site in Tennessee, while Bosch is relocating to Brazil.