Green Tokai to expand in Kentucky

RUBBER & PLASTICS NEWS

Published: August 14, 2014 2:44 pm ET
Updated: August 14, 2014 2:47 pm ET

Related to this story

Topics Automotive, Extrusion, Injection Molding

Rubber and plastic manufacturer Green Tokai Co. Ltd. will invest $4.4 million to expand its weatherstripping and automotive trim plant in Maysville, Ky.

The announcement was made on Aug. 13 by Kentucky Gov. Steve Beshear.

Green Tokai, which manufactures extruded and injection molded rubber and plastic parts for the automotive industry, will add 15,000 square feet to its existing 160,000-square-foot facility. The company said it will purchase new equipment, develop new processes and create 24 more jobs with the expansion.

Construction will begin later this month and finish by December. The plant opened in 1996.

“Our automotive industry continues to stand out as one of the best in the nation, and we owe a lot of that success to quality suppliers such as Green Tokai,” Beshear said. “I want to thank the company for its investment and continued support of Kentucky families.”

Charlie Sapp, Green Tokai’s Maysville general manager, said the expansion “is an opportunity for Green Tokai and nearly 300 associates at our Maysville facility to have a positive impact on the current economic condition.”

The Kentucky Economic Development Finance Authority, through the Kentucky Business Investment program, tentatively has approved $500,000 in tax incentives for Green Tokai, headquartered in Brookville, Ohio. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.

KEDFA approved Green Tokai for tax benefits up to $30,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.

Green Tokai is based in Brookville, Ohio, and is a subsidiary of Tokai Kogyo Co., Ltd. of Aichi, Japan.


Comments

Green Tokai to expand in Kentucky

RUBBER & PLASTICS NEWS

Published: August 14, 2014 2:44 pm ET
Updated: August 14, 2014 2:47 pm ET

Post Your Comments


Back to story


More stories

Auto supplier receiving grant to help expansion

October 30, 2014 3:35 pm ET

Summit Polymers is receiving an $800,000 performance based grant to help with a $7.3 million expansion of three of its Michigan facilities.    More

Image

Magna opens new exterior facility, plans for lighting investment

October 30, 2014 1:36 pm ET

Canadian automotive supplier Magna International Inc. on Oct. 28 opened a new injection molding and robotic paint line facility in Delta Township,...    More

Image

Italian compounder opening first US plant

October 30, 2014 9:45 am ET

The song of the South has led Italian compounder So.F.Ter Group to open its first plant in the United States in Lebanon, Tenn.    More

Image

Finalists named for 2014 SPE Automotive Innovation Awards

October 30, 2014 11:00 am ET

The Society of Plastics Engineers Automotive Division has selected finalists for its 2014 Automotive Innovation Awards competition. Category winners...    More

Image

Plastics News Now: The best homemade plastic Halloween costumes

October 30, 2014 6:00 am ET

A French molder opens its first North American facility, a molder takes augmented reality for a spin and we find the best homemade plastic Halloween c...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events