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Automotive supplier Taeyang to invest $15.6 million, establish 76 jobs in Simpson Co. manufacturing plant

Taeyang Metal Industrial Co. Ltd., manufacturer of fasteners and cold-rolled steel products for the automotive industry, will invest nearly $15.6 million and create 76 full-time jobs to establish a manufacturing plant in Franklin. The facility will be the company’s first in the United States.

“Taeyang is a well-respected, global company in the automotive industry and we are grateful that its executives have selected Kentucky for their initial US operation,” Gov. Bevin said. “We are confident Taeyang will find success in Simpson County, thanks to the pro-business environment that exists across Kentucky. We thank the company for investing and creating jobs in the commonwealth and look forward to building a strong partnership in the years ahead.”

Taeyang will build a 101,000-square-foot facility on a 30-acre site near I-65 in Simpson County. Construction is expected to begin in December and the facility is scheduled to open by September 2018. The Franklin location will allow the company to better serve its customers in the US and expand its global market with production of cold-headed products and metal fasteners for the automotive industry.

“Taeyang Metals is very excited about locating our new plant in Franklin, Kentucky,” said Howard Hahn, Taeyang president and CEO. “We look forward to a successful partnership with the State of Kentucky and the City of Franklin, and continuing growth in this community. We will contribute to the regional economic development, which we hope will benefit the entire region.”

Founded in South Korea in 1974, Taeyang has become a leading supplier of fasteners and cold-forged products, including high-strength bolts, specialty fasteners and screws for automotive and other industrial markets. Since 2004, the company has expanded to operations to China and India. Taeyang’s customers include Fiat Chrysler Automobiles, General Motors, Hyundai/Kia, Cummins Diesel Engine, DMAX, Allison Transmission and Metaldyne.

Kentucky’s automotive industry, a pillar of the economy, employs 100,000 people full-time and includes more than 500 manufacturing, service and technology facilities across the state. This year the state ranks third nationally in production of passenger vehicles and first in vehicles produced per capita.

Taeyang also joins the state’s international business community, a group of nearly 500 facilities employing 105,000 people. The consortium represents 34 nations including three other Korean-owned companies.

For more information on Taeyang, visit www.taeyangmetal.com.

A detailed community profile for Simpson County can be viewed at www.thinkkentucky.com.

From Governor’s Office

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