Worthington Industries’ TWB Company To Locate $7.7 Million Facility In Glasgow, Kentucky
The company plans to sublease 12,000 square feet of space from Fortis Manufacturing on Carroll Knicely Drive in Glasgow and purchase new machinery and other equipment. Production is expected to begin by the end of the first quarter of 2016.
The Kentucky TWB facility will laser weld different types of high-strength-grade steel to create material used for heavy-duty truck rail assemblies that is stronger and lighter with improved crash performance. The material will undergo additional manufacturing at another facility before being used in Ford F-350 and F-250 pickup trucks.
“We are pleased to open a new facility in Kentucky. This expansion is evidence of the strength of the relationships we have with our customers as well as the increased demand for our tailor welded products,” said Geoff Gilmore, President of Worthington Industries’ Steel Processing business. “This location will increase efficiencies in the supply chain and will help put stronger, lighter trucks on the road.”
“Our innovative laser welded blank offering continues to expand into new vehicle parts like these heavy gauge, truck rail assemblies,” said Ivan Meltzer, President of TWB Company. “We appreciate the support of the state of Kentucky as we work to grow our business and offer high-quality jobs in the community.”
To encourage the company’s investment and job growth in Barren County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $360,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, TWB 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.
“With Kentucky’s automotive industry thriving and motor vehicle-related companies already in two-thirds of Kentucky counties, it’s no wonder suppliers such as TWB Company continue to locate and expand in our state,” said Governor Steve Beshear. “I commend TWB both on making the right choice to open in the Commonwealth and for distinguishing itself with lightweight, high-strength products, a new hallmark of the auto industry’s shift toward more efficient vehicles.”
“The City of Glasgow is pleased to welcome TWB Company, a world-class metal working operation, to our community,” said Glasgow Mayor Dick Doty. “We commend them for their investment in our city and thank them for their confidence in us. Their desire for a long-term relationship with the people of Glasgow encourages us. The reputation of their parent companies, Worthington Steel and Wuhan Iron and Steel Company, is noted throughout the automotive industry.”
The new facility is TWB’s 10th in North America; additional locations include Michigan; Tennessee; Alabama; Ontario, Canada; and four in Mexico. Formed in 1992, TWB Company LLC is a joint venture of Worthington Industries and Wuhan Iron and Steel Company. Worthington Industries holds majority ownership of the joint venture and financial results are consolidated within Worthington’s Steel Processing business segment. The venture is North America’s market leader for tailor welded products.
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