New Mather Metals, a firm that a year ago planned a $4.5 million expansion to its manufacturing plant has increased the scope of its project to a $20 million investment, with plans to hire a total of 40 employees in Simpson County, Kentucky.
The firm, which produces suspension components for the automotive industry, has undergone three major expansion projects in recent years and needs to add new production lines to meet the demand. The company plans to add nearly 58,000 square feet to its current facility on Page Drive. The project is expected to be completed by October.
New Mather Metals is a wholly owned subsidiary of NHK International Corporation, which is owned by Japan-based NHK Spring Company Limited. The Franklin facility opened in 2002 and currently has 360 employees. With additional facilities in Bowling Green and Louisville, NHK employs over 1,000 full-time workers in Kentucky.
“This expansion will allow New Mather to increase our product offerings in the automotive suspension market and provide additional employment opportunities locally in Franklin-Simpson,” said Jeff Johnson, plant manager. “New Mather Metals is fortunate to be in a position where, with the support of our parent company, as well as state and local officials, we can invest in new capacity and technologies to meet the growing demands of our customers and the automotive industry.”
To encourage the new investment and job growth, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $325,000 through the Kentucky Business Investment program. That amount is expected to be increased at the time of final approval to reflect the increased job growth and investment.
In addition, New Mather is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no cost recruitment and job placement services, reduced cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.
“That fact that New Mather Metals is more than tripling its initial investment and creating double the jobs shows the kind of success companies find in Kentucky,” said Governor Steve Beshear. “I want to thank New Mather for creating more opportunities for our workforce, our families and our communities.”