11/22/2010
HEADLINES
ITW Expanding Lexington Facility For New Product Launch

Illinois Tool Works will expand its Lexington, KY, operation, investing $1.17 million to deploy its launch of a new rib stem fastener product early next year.

The expansion will create 10 new jobs, adding to its 72-strong workforce at the facility, which was established in 1984 and currently manufactures fasteners primarily used in automotive cam covers, oil pans and drive trains. 

“ITW is excited about the new products we will be launching into production in the coming two years,” said Stephen Dohm, general manager of ITW Powertrain Fastening. “These products will help allow our customers to implement new technology that will increase vehicle fuel economy, while limiting noise, vibration and harshness.”

The Kentucky Economic Development Finance Authority approved a $200,0000 incentive package for ITW. The performance-based incentive can be earned by the companies over a 10-year period through corporate income tax credits and wage assessments.  ©2010 GlobalFastenerNews.com

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