Business and the Economy
Versailles Automotive Parts Supplier to Expand
FRANKFORT – Nisshin Automotive Tubing LLC will invest $7.1 million to purchase and install equipment and expand its 38,600-square-foot manufacturing facility in Versailles. The company will add 23,500 square feet to accommodate new equipment and a new production line.
The company has 18 employees and currently manufactures stainless steel tubes for automobile exhaust systems, but as part of the expansion will also produce gas tank filler systems for the automotive industry. The plant will also install new equipment, such as a cutting machine and tubing mill, according to a news release from Gov. Steve Beshear's office.
“This expansion will not only increase our company’s capacity, but will also increase locally produced products which will be used in place of imported steel,” Hiroshi Okamura, president Nisshin Automotive Tubing LLC, said.
Japanese-owned companies operate more than 150 facilities in Kentucky and provide more than 34,000 full-time jobs, the news release said. Additionally, Kentucky has the second-highest Japanese foreign direct investment on a per capita basis.
To encourage the investment in Versailles, the Kentucky Economic Development Finance Authority preliminarily approved Nisshin Automotive for tax benefits up to $75,000 through the Kentucky Enterprise Initiative Act.
“Nisshin Automotive Tubing is a valued industry in our community, and we are delighted they have decided to expand operations in Woodford County,” said Woodford County Judge-Executive John Coyle.