Cabinet for Economic Development
NPR MANUFACTURING KENTUCKY BREAKS GROUND FOR NEW FACILITY IN BARDSTOWN
MEDIA NOTE: Due to weather conditions in the area, the Governor's plane was unable to land in Bardstown. Therefore, Governor Fletcher was unable to attend this event. Secretary Gene Strong spoke on behalf of the Governor.
FRANKFORT, Ky. – Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong were joined by local and company officials today to break ground on the future home of NPR Manufacturing Kentucky’s new facility in Bardstown. The $48.7 million Japanese investment, which was announced in May 2006, will create an initial 50 jobs and approximately 150 jobs within two years of operation.
“I am delighted to have our friends from Nippon Piston Ring Co. back in the commonwealth to break ground on their new Kentucky home right here in Bardstown,” said Governor Fletcher. “This investment will have a tremendous economic impact on the community and state and we look forward to a long and successful relationship.”
NPR Manufacturing Kentucky (NMKY), a subsidiary of Nippon Piston Ring Co. in Japan, will produce steel piston rings, one of the key automotive engine components. The soon to be constructed 200,000 square-foot facility in Nelson County is expected to be operational by October 2007. The company anticipates reaching a production capacity of 4 million pieces of piston rings in 2008 and 18 million pieces in 2010.
“It is our humble wish to start out as just one of the ‘locals’ - to be recognized, anticipated and appreciated,” said Yasuyoshi Egami, President of NPR Manufacturing Kentucky. “In order for us to grow to be a trusted global supplier of quality products and human resources, we would like to have your support and guidance. We have been making an industrious effort to become, under the company’s motto, ‘a company which manufactures by nurturing humans’.”
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.
“We are very excited to see this day in Nelson County,” said Nelson County Judge-Executive Dean Watts. “The groundbreaking will celebrate the official welcoming of NPR Manufacturing Kentucky to Bardstown, as well as new opportunities for the residents of Nelson County.”
“Bardstown extends its business hospitality to this new member of our community,” said Bardstown Mayor Dixie Hibbs. “We are very glad they chose us for their new Kentucky home.”
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.