NEW MOLTEN ALUMINUM PRODUCTION PLANT TO LOCATE IN BOURBON COUNTY
Frankfort, Ky. – Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong are pleased to announce that Kentucky Smelting Technology, Inc., a joint venture between Toyota Tsusho America, Inc. and its parent company, Toyota Tsusho Corporation, will locate a new 50,000 square foot aluminum smelting facility in Bourbon County. The project will create 35 new jobs and represents a $9.2 million investment in the Commonwealth.
“Encouraging companies to locate and expand in Kentucky makes the commonwealth more competitive, more business-friendly, and also more family friendly, because we are providing new opportunities for hard-working Kentuckians,” said Governor Fletcher. “I commend Kentucky Smelting Technology for choosing Bourbon County as their new location, and my administration looks forward to working with the company for years to come.”
The location of Kentucky Smelting Technology in Paris will allow the company to work in partnership with CMC/CLA, a manufacturer of aluminum wheels, located on Wheat Drive. The new facility will be situated on a newly constructed road behind the CLA plant and will be accessed via Highway 460 once completed.
“We are pleased to announce our new operation in the Paris, Bourbon County area,” stated a company spokesperson. “We look forward to working with the community and being a good corporate citizen.”
“Our long standing relationship with Toyota Tsusho ensures that Kentucky Smelting Technology will be a welcome addition to our community,” added Frank Bellafato, Chairman and CEO, CMC/CLA. “KST will be performing a vital operation for CMC/CLA in providing molten aluminum for our casting operations. We are expecting to expand our production of aluminum wheels in September to one million five hundred thousand per year. With KST providing the aluminum, CMC/CLA can focus our activities on our core business of casting and finishing aluminum wheels.”
“We welcome Kentucky Smelting as the newest member of our industrial community,” said Bourbon County Judge Executive Donnie Foley. “This project represents many hours of hard work by the Paris-Bourbon County Economic Development Authority, to bring new jobs to our community and assist a local industry expand its operations.”
“We appreciate the assistance from the state of Kentucky’s Economic Development Cabinet and Transportation Cabinet,” added Don Kiser, Mayor of Paris. “Their assistance in structuring this project was instrumental to its success.”
For over half a century since its establishment in 1948, Toyota Tsusho Corporation (TTC) has been building a global sales and distribution network. Today, together with 224 subsidiaries and other affiliates comprising the Toyota Tsusho Group, TTC is involved in undertaking a wide range of businesses from trading, manufacturing and processing to retail and services throughout the world.
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Kentucky Smelting Technology for tax benefits under the Kentucky Industrial Development Act (KIDA), an incentive program aimed at increasing manufacturing employment in the Commonwealth. A community profile for Bourbon County may be found at the following link: http://www.thinkkentucky.com/edis/cmnty/cw086/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 2004 totaled nearly $2.3 billion with the creation of just over 16,600 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.