BMW Mfg. Co. says it will invest about $50 million in a sheet metal stamping facility near the auto maker’s assembly plant in Spartanburg, SC.

LSP Automotive Systems, located in Union, SC, will manufacture molds for sheet metal stampings for the exterior of a new BMW slated for assembly in 2008.

The $50 million will be used to buy the molds, which BMW will own. LSP is spending $96 million on the facility and equipment.

The project is expected to create 130 new jobs.

BMW builds the X5 in Spartanburg, as well as the Z4 and M roadster and coupe. The auto maker last year converted from two assembly lines to a single flexible line that can accommodate disparately-sized vehicles.