Nifco Inc., a Japan-based manufacturer of plastic injection molded fasteners for the automotive industry, recently announced plans to open a manufacturing facility in Shelbyville, Ky., that will bring 151 new jobs and an investment of $14,901,000.

Nifco will construct a 43,000 square foot facility on approximately 13.5 acres located in Hi Point Industrial Park. The company will also purchase new equipment and building fixtures as part of the project, which will create 151 jobs within two years of project completion.

"It is our intent to install state-of-the-art manufacturing equipment at our new plant in Shelbyville in order to manufacture products capable of being cost competitive in the U.S. market,” said Kenichi Sakurai, managing director of Nifco Inc. “The accessibility of Shelbyville … have reinforced our decision to locate in Shelbyville. We look forward to becoming the new corporate citizen of Shelbyville and the Commonwealth of Kentucky."

Nifco Inc. is the principal manufacturer of industrial plastic parts and components in Japan with a dominant 70% share of the market. Nifco produces more than 20,000 types of fasteners, plastic parts components, electrical and electronic parts which it largely supplies to the automobile industry, home electric appliance and white goods manufacturers.

The company was founded in 1967. It has five production facilities in Japan and twenty-two facilities in fourteen countries around the world. In addition to the United States, other locations include China, Hong Kong, Malaysia, Mexico, Poland, Singapore, South Korea, Spain, Taiwan, Thailand, United Kingdom and Vietnam.

The Kentucky Economic Development Finance Authority preliminarily approved Nifco, Inc. for tax benefits up to $3,000,000 under the Kentucky Industrial Development Act, an incentive program designed to attract and expand manufacturing operations in the state. For MORE NEWS BRIEFS, click here.

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