5/2/2016 12:58:00 AM
HEADLINES
A Raymond Tinnerman Plans KY Expansion
A Raymond Tinnerman Automotive plans a new product line that will create 10 jobs with an investment of more than $332,000 at its facility in Flemingsburg, KY, LEX18.com reports.
“Thanks to recently signed contracts to supply global products, A Raymond Tinnerman will purchase equipment including two new 55-ton molding machines for its new line to produce a variety of plastic clips and assemblies for the automotive industry,” LEX18.com reports.
The line is expected to start operating by July, increasing annual revenue by approximately $1.5 million.
The Flemingsburg facility, originally owned by Textron, opened in 1959, according to LEX18.com. Tinnerman Palnut Engineered Products purchased it in 2005, prior to joining A Raymond North America. The company employs 103 people at the facility, which is managed by Bill Breeze.
The Kentucky Economic Development Finance Authority approved tax incentives up to $200,000 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, A Raymond Tinnerman can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Web: araymondtinnerman.com
For more on A Raymond Tinnerman, read the Fastener History article on The Next Big Thing in the Fastener Industry.
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