Koyo Corp. of USA, a wholly owned subsidiary of JTEKT Corp., recently announced that it is planning to open its third U.S. bearing manufacturing plant in the community.
In addition, Nakatetsu Inc. of Tennessee and Koyo will partner to establish a joint venture, Nakatetsu Machining Technologies, and will also open a manufacturing facility located in the Washington County Industrial Park. Approximately 150 new jobs are expected to come to the community from these projects ranging from production, skilled trade and professional positions.
“Our preliminary selection of Washington County reflects our commitment to American manufacturing and the American worker,” said Steve McCullough, general manager of Koyo Corp. of USA. “Increased consumer demand for our products requires increased manufacturing capabilities to compliment our other U.S. plants and relationships. Washington County meets our needs with an experienced work force and an ideal logistical location plus the outstanding commitment and cooperation from the state, county, TVA, regional utilities and the surrounding cities.'
“This joint venture fits with our corporate strategy of growth in the automotive market,” said Syuji Nakano, CEO of Nakatetsu Machining Technologies. “After looking at many locations, we are excited about the possibility of locating our first manufacturing facility in Washington County. We appreciate the time and effort spent by the state, county, TVA and many local agencies. We are very confident that the work force surrounding Washington County will help us in establishing a world class operation and support our target for growth and expansion.”
JTEKT Corp. is headquartered in Japan with head offices in Nagoya and Osaka and employs 30,000 worldwide. JTEKT (Koyo) is one of the world’s largest automotive component suppliers. Koyo USA is a Tier 1 and Tier 2 supplier to Toyota, Honda, Ford, GM, Daimler Chrysler, and BMW.
Nakatetsu Co. Ltd, headquartered in Osaka, Japan was established in 1961. Nakatetsu is a major supplier of forgings and turned components for the bearing industry.
Go to STATE SPOTLIGHTS to read more about other news and articles about this state.
Go to INDUSTRY SPOTLIGHTS to read more about other news and articles about this industry sector.
For a FREE subscription to Expansion Management, click here.
Means the article is accessible only to our magazine subscribers.
