Posted by: Scott Harrison
Manufacturer to create more than 170 new jobs
PARIS, TENN. – Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd along with Eurotranciatura USA officials today announced the manufacturer is investing $12.6 million to expand its operations in Paris over the next five years.
Eurotranciatura, a subsidiary of the world’s largest steel lamination company for electrical rotating machines, will create more than 170 new jobs as part of the expansion.
Eurotranciatura’s investment includes upgrades and new equipment for its existing manufacturing plant in Henry County. Eurotranciatura will also build a roughly 30,000 square foot distribution warehouse near its current plant to accommodate growth and reduce transportation costs.
“Advanced manufacturing runs deep in Tennessee. Time and time again, when manufacturers choose to locate in our state, Tennesseans are up to the task,” Haslam said. “Tennessee’s highly-skilled workforce and dedication to innovation continue to attract leading manufacturers like Eurotranciatura. We thank them for choosing to expand in Paris and their commitment to create more than 170 new jobs for Henry County. This expansion pushes us closer to our goal of being the No. 1 location in the Southeast for high quality jobs.”
“Team Tennessee believes in the power of manufacturing, a sector that employs more than 332,000 Tennesseans and one that is continually evolving,” Boyd said “Eurotranciatura is a global leader in that evolution and is constantly bringing new technologies to the table. We’re excited Eurotranciatura is doing so right here in Paris and expanding operations in a major way. We welcome this new investment and Eurotranciatura’s commitment to bring meaningful, highly-skilled jobs that will have a lasting impact on Henry County residents.”
Eurotranciatura, a joint venture between Euro Group S.p.A and Kuroda Precision Industries Ltd., manufactures steel lamination products for electrical motors and generators. Eurotranciatura’s Paris facility supplies the U.S market for companies such as Stanley Black & Decker, Franklin Electric, ThyssenKrupp, Regal Beloit, Generac as well as Tecumseh Products.
“Over the last 30 months, we successfully introduced the latest technologies available in the market to provide cost effective solutions for our customers,” Eurotranciatura Chief Operations Officer Matteo Fassio said. “This was also achieved with the support of the local community and the state of Tennessee. This joint effort will secure the creation of additional jobs for Henry County in the near future.”
In 2014, Eurotranciatura acquired the lamination division of Tecumseh, based at 2700 W. Wood St. in Paris. The company recently completed its purchase of Tecumseh’s former building in Henry County.
Renovations to Eurotranciatura’s existing plant are scheduled to be completed by the first or second quarter 2017. Construction of the new warehouse is expected to begin in August 2017.
Local elected officials and the Tennessee Valley Authority applauded Eurotranciatura’s expansion.
“We are extremely pleased that one of our great local industries has decided to expand its footprint in our community,” Henry County Mayor Brent Greer said. “They have been and will continue to be excellent corporate citizens for Paris and Henry County.”
“The city of Paris is excited to partner with a great company like Eurotranciatura,” city of Paris Mayor Carlton Gerrell said. “On behalf of the citizens of Paris, Tennessee, we want to thank Eurotranciatura for its investment and commitment to our community and look forward to its continued growth for years to come.”
“TVA and Paris Board of Public Utilities congratulate Eurotranciatura USA on its announcement to create job opportunities in Henry County,” TVA Senior Vice President of Economic Development John Bradley said. “It’s always an exciting day when a company commits to growth in our rural communities, and we are pleased to partner with Paris-Henry County Economic Development Corporation, the city of Paris, Henry County and the Tennessee Department of Economic and Community Development to celebrate this announcement and help further economic growth in the Valley.”
Paris and Henry County are represented by Sen. John Stevens (R – Huntingdon) and Rep. Tim Wirgau (R – Buchanan) in the Tennessee General Assembly.
About Eurotranciatura USA, LLC
Eurotranciatura, a joint venture between Euro Group S.p.A and Kuroda Precision Industries Ltd., manufacturers steel lamination products for electrical motors and generators. Headquartered in Milan, Italy, Euro Group is Europe’s largest steel lamination company and has operations on four continents. Euro Group serves roughly 500 customers, including companies such as Siemens and Cummins. Kuroda Precision of Kawasaki, Japan has been producing lamination dies for 60 years. Today it produces a variety of products, including cell phone parts as well as motor cores for the hybrid vehicles of Honda Motor Co., Nissan Motor Company and General Motors.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @TNECD. Like us on Facebook: facebook.com/TNECD.