6/27/2016 9:52:00 PM
HEADLINES
Japan Steelmaker Plans $50m Indiana Wire Facility
Japan’s largest steel producer plans to open a $50 million manufacturing facility employing up to 70 workers by the end of 2021, the Indianapolis Business Journal reports.
Tokyo-based Nippon Steel & Sumitomo Metal Corp. said the new business will be called Nippon Steel & Sumikin Cold Heading Wire Indiana Inc., or NCSI, and will be located in Shelbyville, IN.
The new plant will process steel wire used for fastener applications by the automotive parts industry.
The 150,000 sq ft facility, to be constructed at 400 Northbrook Drive, is expected to be fully operational by spring 2017. The location is adjacent to another NSSMC operation—Indiana Precision Forge, according to the Journal.
NCSI will begin hiring for administrative, customer service and sales positions in January 2017 and for manufacturing positions in late 2017.
“This facility is the first U.S. production plant for the NSSMC Bar & Wire Rod Unit, already operating in Thailand and China, and we are excited to be locating in Indiana,” stated NCSI president Hideoki Kimura. “We chose Indiana and the Shelbyville community for this investment because of the central location, established manufacturing industry and the skilled workforce available.”
The Indiana Economic Development Corp. reportedly offered NCSI up to $475,000 in conditional tax credits and up to $140,000 in training grants based on the job-creation plans. The city of Shelbyville will consider additional incentives.
Nippon Steel has more than 84,000 employees worldwide who operate nine research and development facilities and produce steel in 15 countries.
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