Responding to new contracts for its vehicle hose assemblies, Yokohama Industries Americas Inc. plans to invest $5.2 million in new equipment at its plant in Versailles, Kentucky. The company plans to hire 134 full-time employees.
Yokohama Industries America is a subsidiary of Tokyo-based Yokohama Rubber Co. Ltd., which was founded in 1917 as a joint venture between Yokohama Cable Manufacturing and B.F. Goodrich Co. The Versailles facility, one of two Yokohama plants in the city, opened in 1989.
The project will add two new production lines at Yokohama’s Hose Division plant at 105 Industry Drive. The facility currently employs about 300 people producing and distributing hose assemblies for vehicle air conditioning, power steering and transmission oil cooler systems.
“Yokohama Industries Americas Inc. appreciates the great support provided by Kentucky’s Cabinet for Economic Development, the City of Versailles and Woodford County. Yokohama is very pleased to work with strong government team focused on expanding the automotive business in Kentucky and creating new jobs in the region,” said company President Yasu Tajima.
“This expansion by Yokohama and the new employment it will create further strengthens the Commonwealth’s automotive industry. This is a great day for Kentucky,” Governor Matt Bevin said. “We are grateful for Yokohama’s increased investment in Kentucky and look forward to their continued success.”