FRANKFORT, Ky. (Sept. 29, 2016) – Responding to new contracts for its vehicle hose assemblies, Yokohama Industries Americas Inc. plans to hire 134 full-time employees and invest $5.2 million in new equipment at its plant in Versailles, Gov. Matt Bevin announced today.
“This expansion by Yokohama and the new employment it will create further strengthens the Commonwealth’s automotive industry. This is a great day for Kentucky,” Gov. Bevin said. “We are grateful for Yokohama’s increased investment in Kentucky and look forward to their continued success.”
The project will add two new production lines at Yokohama’s Hose Division plant at 105 Industry Drive. The facility currently employs about 300 people producing and distributing hose assemblies for vehicle air conditioning, power steering and transmission oil cooler systems.
“Yokohama Industries Americas Inc. appreciates the great support provided by Kentucky’s Cabinet for Economic Development, the City of Versailles and Woodford County. Yokohama is very pleased to work with strong government team focused on expanding the automotive business in Kentucky and creating new jobs in the region,” said company President Yasu Tajima.
Yokohama Industries America is a subsidiary of Tokyo-based Yokohama Rubber Co. Ltd., which was founded in 1917 as a joint venture between Yokohama Cable Manufacturing and B.F. Goodrich Co. The Versailles facility, one of two Yokohama plants in the city, opened in 1989.
Sen. Julian Carroll, of Frankfort, said the region’s many assets will continue to make the Yokohama plant a success.
“Congratulations to Yokohama on its upcoming expansion. Versailles, Woodford County, and the surrounding region welcome the growth that will be generated and stand ready with a skilled workforce to meet any future needs,” Sen. Carroll said.
Rep. James Kay, of Versailles, said community members are proud to have Yokohama as part of the business community and Woodford County family.
“Yokohama’s decision to expand in our community is further proof that Woodford County is open for business,” Rep. Kay said. “Our people are our biggest asset and I am pleased that Yokohama recognizes our valuable workforce and is willing to invest and create more jobs in Versailles. Woodford County is an ideal place to do business. I’m proud to help grow new jobs and build our economy as we attract new business and industry to our community while helping those already here grow and thrive.”
Woodford County Judge-Executive John Coyle praised Yokohama for its expansion and ongoing commitment.
“Yokohama has long been an important part of our corporate family and we are delighted to assist them with this latest expansion,” Judge Coyle said. “Their expansion represents approximately $5 million and 134 new jobs for Woodford County. We want to thank the State of Kentucky’s Economic Development Cabinet and Woodford EDA for their hard work but most of all, Yokohama for their continued confidence in our community and its workforce.”
Versailles Mayor Brian Traugott expressed gratitude for Yokohama’s decision to expand its operations in Versailles.
“This company has been a great corporate citizen over the years,” Mayor Traugott said. “Their decision to invest more speaks volumes about all that our community has to offer and the workforce we have. I want to thank everyone who had a hand in making this possible.”
Yokohama can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on Yokohama Industries Americas Inc., visit www.yokohamaia.com.
A detailed community profile for Woodford County can be viewed at www.bit.ly/WoodfordCoKy
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2015 totaled a state record $5.1 billion, spurring more than 16,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.