FRANKFORT, Ky. (April 21, 2016) – Gov. Matt Bevin today announced a new product line planned by A Raymond Tinnerman Automotive Inc., a supplier of clip fasteners and other automotive-industry products, will create 10 jobs with an investment of more than $332,000 at its Flemingsburg facility.
“A Raymond Tinnerman’s investment in a new product line represents the kind of success companies find when they’re forward-thinking, innovative and ready to act,” said Gov. Bevin. “This proactive approach translates into more and better jobs, economic stability for local communities and continuing vibrancy in Kentucky’s manufacturing sector.”
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. Company executives expect the line to start operating by July and to increase annual revenue by approximately $1.5 million.
The Flemingsburg facility, originally owned by Textron, opened in 1959. Tinnerman Palnut Engineered Products purchased it in 2005, prior to joining A Raymond North America. Currently, the company employs 103 people at the facility.
“We are proud to be a part of Kentucky,” said Bill Breeze, plant manager. “The commitment of Governor Bevin and his economic development staff to continue to grow the manufacturing sector of Kentucky will create more jobs and improve the economy. This continued support assists A Raymond Tinnerman to continue to grow, which in turn creates more jobs and adds to the stability of this facility for the future.”
The 2009 purchase of Tinnerman by A Raymond established the company in Rochester Hills, Mich. and combined their expertise in clip fasteners and metal-and-plastic assembly technologies and services for the auto industry. A Raymond Tinnerman currently employs more than 850 people at its five plants in Kentucky, Michigan, Indiana, Ohio and Canada. The company also maintains a presence in Mexico through a manufacturing partner.
In 1870, George Tinnerman founded the Tinnerman Stove Company in Cleveland, Ohio. By 1936, his son Albert developed a spring steel fastener known as the Speed Nut, which pointed the company in a new direction including providing fasteners for American World War II aircraft. Thereafter, the company entered the automotive market with its timesaving fasteners.
Albert-Pierre Raymond established his company, A Raymond, in France in 1865. In time it supported the glove, shoe, leather, textile, radio, construction and automotive industries. The company opened its first U.S. facility in 1989 and currently holds more than 800 industrial patents.
Sen. Steve West, of Paris, said the announcement is a welcome boost to the local economy.
“I welcome the news and thank A Raymond Tinnerman for its continual investment in Fleming County. This move will provide additional jobs for hard-working Kentuckians while further energizing our regional economy,” said Sen. West.
Rep. Mike Denham, of Maysville, said A Raymond is building on its already established role within the community as a job creator.
“The A Raymond Tinnerman Automotive facility has meant a lot to Flemingsburg over the years, so it is great to hear that it is expanding and adding to its workforce,” Rep. Denham said. “I’m proud to see it take this step and build on its foundational role in Kentucky’s automotive industry. I want to thank its leaders and our local and state officials for working together to help make this happen.”
Fleming County Judge-Executive Larry Foxworthy noted the facility has long been an integral part of economic development in Fleming County.
“It is such good news to hear that a long time employer in Fleming County is once again expanding their operations,” said Judge-Executive Foxworthy. “A Raymond Tinnerman has been a large part of our local economy since the early 1960s and has been a wonderful community partner. We congratulate A Raymond Tinnerman on this recent expansion of the Flemingsburg facility and wish to express our deepest thanks to them for their continued commitment to Fleming County citizens.”
Flemingsburg Mayor Martin Voiers recognized A Raymond Tinnerman for the fulfillment of its promise to remain committed to the community.
“When A Raymond Tinnerman came to Flemingsburg, they made a commitment to be a continuing presence in the community and an economic driver for the future,” said Mayor Voiers. “That commitment has been reinforced by the investment in new technologies that in turn have resulted in the expansion of their operation and the creation of more quality jobs. I congratulate them on their continued success and look forward to continuing to partner with A Raymond Tinnerman in making Flemingsburg a great place to live and work.”
To encourage the investment and job growth in the Fleming County, the Kentucky Economic Development Finance Authority preliminarily approved the company for 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 resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to 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 A Raymond Tinnerman, visit www.ARaymondTinnerman.com.
A detailed community profile for Flemingsburg (Fleming County) can be viewed here.
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.