South Korea-based Dongsung Finetec Co. Ltd. will create 250 new direct jobs and make a $5 million capital investment in a cryogenic insulation manufacturing facility in Lake Charles, Louisiana.

The company, which provides specialized high-performance insulation to liquefied natural gas plants and other industrial sites around the world, will lease an 11-acre site at the Port of Lake Charles’ Industrial Park East for its manufacturing complex. The site includes the former Spartech plastics compounding plant. The 59,000-square-foot building will be renovated for specialized insulation production.

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