updated: 3/12/2007 5:53:53 AM

TS Tech to Build Production Facility in New Castle

InsideIndianaBusiness.com Report

It's official. TS Tech will build a new production facility in New Castle. The plant will employ 300 people and represent a more than $32 million capital investment. Workers will build seats and interior trim pieces for Honda automobiles. Officials hope to begin production at the plant in August of 2008.

Source: Inside INdiana Business

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Press Release

NEW CASTLE, Ind. (March 9, 2007) — Governor Mitch Daniels and community leaders from East Central Indiana joined executives from TS Tech today to announce the company’s decision to build a new production facility here.

The new facility, which will make seats and interior trim pieces for Honda automobiles, will bring 300 new jobs and more than $32 million in capital investment to the state.

“Our small town emphasis will continue to be the focus of our economic development activities, and Winchester and New Castle are two very promising steps forward,” said Governor Mitch Daniels.

Construction of the 200,000-square-foot facility is slated to begin in April with company officials eyeing August 2008 as the start of production. When operational, the plant will produce approximately 800 seats per day for the Honda Civic.

The Indiana Economic Development Corporation provided up to $2.4 million in tax credits and $645,000 in grants to bring TS Tech to Indiana. New Castle and Henry County officials also contributed more than $5.5 million in local resources.

"This announcement is a wonderful and exciting event for New Castle,” said New Castle Mayor Tom Nipp. “I believe TS Tech's choice to locate in our community will help to improve the quality of life for our City! These new jobs will be a blessing to many families. On behalf of the City of New Castle I am proud to be a part of his opportunity, and I am thankful for the hard work and dedication demonstrated by the team of professionals that helped to make this a success."

The announcement of TS Tech’s plans to invest in Indiana comes only weeks after Honda supplier Tomasco announced it would expand its production operations in Winchester, adding 140 jobs to its workforce. Both the TS Tech and the Tomasco announcements follow in the wake of Honda announcing its plan to develop a new production facility on a 1,700-acre site in Decatur County near Greensburg. That facility is slated to begin production in fall 2008 and employ 2,000 people.

About TS Tech

Founded in 1960, TS Tech is Japan-based production company that manufactures vehicle seats; interior products and interior components for 4-wheel vehicles. The company also manufactures seats and parts for motorcycles. TS Tech is a main supplier to Honda Motor Co., Ltd. Honda R&D Co., Ltd. Honda Access Corp., Suzuki Motor Corporation, Yamaha Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., Fuji Heavy Industries,Ltd. and Isuzu Motors Limited.

About IEDC
The Indiana Economic Development Corporation is the state’s premier entity charged with economic development. The IEDC has a 12-member board chaired by Governor Mitch Daniels. Indiana Secretary of Commerce Nathan Feltman is also chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.IN.gov.

Source: The Indiana Economic Development Corporation

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