Associated Fuel Pump Systems Corporation will close next year, meaning 346 employees will need to find new jobs.
The company, known as AFCO, was established in 1989 as a joint venture between Bosch and Denso. AFCO began making fuel pumps and fuel pump modules in 1991 at a plant near the Bosch factory on S.C. 81 North near Anderson.
Bosch and Denso, which is based in Japan, have decided to dissolve their joint venture.
"When established, AFCO leveraged the benefits of manufacturing common fuel pumps for the automotive industry. Since then, these advantages have diminished as each parent company launched independent fuel pump designs, competition increased and global demand for fuel pumps declined," Bosch spokeswoman Linda Beckmeyer said in an email Tuesday.
"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," she said.
Beckmeyer said the dissolution of the joint venture and the closure of the AFCO plant are expected to be completed by the third quarter of 2018.
AFCO employees will have opportunities to pursue positions with Bosch or Denso, Beckmeyer said.
"After that, they will be offered competitive severance packages and support to help transition to new opportunities," she said.
Bosch plans to relocate fuel pump manufacturing to its facility in Campinas, Brazil, where similar products are already made, Beckmeyer said. She said Denso will relocate fuel pump manufacturing to a facility in Athens, Tennessee.
Anderson County Economic Development Director Burriss Nelson said "AFCO has been a great thing in our community."
"Any time you are talking about closing a facility, it is a worry," he said.
Nelson said the company's highly trained employees should have little difficulty finding work.
"They can get jobs at just about any operation in the Upstate that they want to," he said.
Nelson also said that Anderson County might be interested in acquiring the AFCO plant for use as a speculative building. County officials have spent several years discussing the idea of creating a spec building to help lure economic development prospects to the area.