Tuesday, October 7, 2008

Japane Auto Part $48.7 Million Facility in Bardstown, Kentucky

Japanese Auto Parts Manufacturer Opens New $48.7 Million Facility in Bardstown, Kentucky.

Governor Steve Beshear joined company and community officials to celebrate the grand opening of NPR Manufacturing Kentucky in Bardstown, Kentucky. The $48.7 million Japanese investment is NPR’s first manufacturing facility in the state and the company expects to reach 150 employees.

Parent company Nippon Piston Ring Co., Ltd., headquartered in Saitama City, Japan, announced in May 2006, it would locate its newest manufacturing facility in Kentucky. The 200,000 square-foot plant, named NPR Manufacturing Kentucky, will produce steel piston rings, a key automotive engine component.

"I deeply appreciate everyone who has supported us in opening our new business in Bardstown,” said Yasuyoshi Egami, president of NPR Manufacturing Kentucky, LLC.

NPR Manufacturing Kentucky, located in the Wilson Industrial Park, is Bardstown’s ninth Japanese company. Production at the Bardstown operation is expected to reach 18 million pieces annually.

The Kentucky Economic Development Finance Authority approved NPR Manufacturing Kentucky for up to $4 million in tax benefits under the Kentucky Rural Economic Development Act. Additionally, the company was approved for $297,912 in benefits under the Kentucky Enterprise Initiative Act, a program that allows approved companies to recoup sales and use tax costs related to construction materials, building fixtures and equipment used for research and development.

The company will also utilize funds from the state’s Bluegrass State Skills Corporation, the workforce training arm of the Cabinet for Economic Development, to train new employees.

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