Governor Ernie Fletcher’s Communication Office
Governor Ernie Fletcher Announces New Jobs Coming to Bardstown
Nippon Piston Ring Co., Ltd. will invest nearly $49 million and create 150 jobs
FRANKFORT, Ky. – Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong were joined by officials from Nippon Piston Ring Co., Ltd. in Frankfort today to announce that the company will locate its newest manufacturing facility, NPR Manufacturing Kentucky, L.L.C., in Bardstown. The $48.7 million Japanese investment will create an initial 50 jobs and approximately 150 jobs within two years of operation.
“As we showcase Kentucky this Derby weekend, it is only appropriate that we are also able to welcome a new business to the commonwealth,” said Governor Fletcher. “As all eyes are on Kentucky and the Derby, we want to send the message that Kentucky is open for business. This new investment by Nippon Piston Ring Co., Ltd. is proof of that, and we welcome them to our great state.”
NPR Manufacturing Kentucky (NMKY), expected to be operational by October 2007, will produce steel piston rings, one of the key automotive engine components at its new 200,000 square foot facility in Nelson County. The company anticipates reaching a production capacity of 4 million pieces of piston rings in 2008 and 18 million pieces in 2010.
“We would like to express our heartfelt thanks to Governor Fletcher, Secretary Strong and all officials of the state, Nelson County and Bardstown, who kindly invited us to set up our new plant in Kentucky,” said Fumiaki Moriya, President of Nippon Piston Ring Co., Ltd. “Having carefully studied the candidate sites in various respects, we found Bardstown to be heads and shoulders above any other community for our requirements. It’s a great pleasure and honor to be able to announce the establishment of our new company during the remarkable Kentucky Derby week.”
Aiming to increase sales of their products to both Japanese plants and domestic manufacturers, the move to Bardstown will allow the company to better serve its customers needs expeditiously. The facility will be the company’s third U.S. manufacturing operation.
“Nelson County is very pleased that NPR Manufacturing Kentucky has chosen Bardstown to locate their new U.S. facility,” said Nelson County Judge-Executive Dean Watts. “We welcome NPR and their families and look forward to having them as a solid part of our industrial community for years to come.”
“This is an exciting day for the residents of Bardstown and Nelson County,” added Bardstown Mayor Dixie Hibbs. “NPR Manufacturing Kentucky will be a true asset to our community and we look forward to the new jobs and opportunities this fine company will bring to the area.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Nippon Piston Ring Co., Ltd. for up to $4 million in tax benefits under the Kentucky Rural Economic Development Act (KREDA), an incentive program designed to increase employment in the commonwealth. A community profile for Nelson County can be found at the following link: http://www.thinkkentucky.com/edis/cmnty/cw032/Location.htm.
The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2005 totaled nearly $1.7 billion with the creation of over 17,100 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.thinkkentucky.com.