Governor Ernie Fletcher’s Communications Office
Governor Fletcher Participates in Grand Opening of New Mather Metals, INC. in Franklin
FRANKFORT, Ky. – Governor Ernie Fletcher joined company and local officials today to celebrate the grand opening of New Mather Metals, Inc.’s most recent expansion in Simpson County. The significant expansion of its facility in the Sanders Industrial Park will add nearly 93 new jobs and represents an additional investment of $29 million in the commonwealth.
“It’s a privilege for me to be here today to commemorate the grand opening of New Mather Metals’ newest addition to the Franklin community,” said Governor Fletcher. “New Mather Metals has been an outstanding corporate citizen and the fact that they continue to grow operations here in Kentucky speaks volumes about the work force, business climate and partnerships we’ve cultivated in our great state.”
Specializing in the production of stabilizer bars for the automotive industry, New Mather Metals and its parent company, NHK Spring Co., Ltd, Japan’s first producer of industrial springs, together have approximately a 20 percent share of the worldwide production of these products.
With the steady growth of the automotive business in North America and more specifically the Japanese transplant automakers, New Mather Metals determined it would be necessary to expand the capacity of its Franklin plant, which is centrally located to its customer base.
“It’s been exciting to be a part of a growing progressive company with a great vision for the future,” said Ryuji Yashiro, New Mather Metals President and COO. “We truly appreciate the support we’ve received from the state, our local leadership and the entire Franklin community in bringing this project to life.”
New Mather Metals first announced its location in Simpson County in July 2001. The company’s history of growth and expansion since being acquired by NHK Spring Co. in 1987 has continued here in Kentucky. NHK Spring Co. also has a subsidiary operation, NASCO, in Bowling Green, which produces suspension components and announced in July 2005, it would locate a new manufacturing facility in Louisville to produce small engine springs for the automotive industry. The Louisville facility is expected to be operational later this year.
“It is so exciting to watch the business growth of New Mather over these last couple of years. New Mather is a great corporate citizen that really contributes to the life of our community,” said Simpson County Judge-Executive Jim Henderson. “The addition of nearly 180,000 square feet to their facility has allowed them to push their employment numbers to nearly 250, creating some great opportunities for employment for our citizens.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the New Mather Metals expansion project for up to $2 million in tax benefits under the Kentucky Industrial Development Act (KIDA). A community profile for Simpson County can be found at the following link: http://www.thinkkentucky.com/edis/cmnty/cw079/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 more than $1.6 billion with the creation of over 16,700 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.