Auto supplier TWB Company opens Glasgow facility
GLASGOW, Ky. – TWB Company LLC, plans to open a new facility in Glasgow, creating 12 jobs and investing nearly $7.7 million.
The Kentucky TWB facility will laser weld different types of high-strength steel to create material used for heavy-duty truck rail assemblies in Ford F-350 and F-250 pickup trucks.
The company plans to sublease 12,000 square feet of space from Fortis Manufacturing on Carroll Knicely Drive in Glasgow and to purchase new machinery and other equipment. Production is expected to begin by the end of the first quarter of 2016.
TWB Company, LLC was formed in 1992 as a joint venture between Worthington Industries and Thyssen Stahl AG. ThyssenKrupp sold their shares to Wuhan Iron and Steel Company (WISCO) in July 2013. Worthington Industries holds majority ownership. The venture is North America’s market leader for tailor welded products.
“We are pleased to open a new facility in Kentucky. This expansion is evidence of the strength of the relationships we have with our customers as well as the increased demand for our tailor welded products,” said Geoff Gilmore, president of Worthington Industries’ Steel Processing business. “This location will increase efficiencies in the supply chain and will help put stronger, lighter trucks on the road.”
Tailor welded blanks have evolved from same-gauge and same-grade steel sheets welded together to sheets and cois of different thickness and grades that are joined together. The material helps manufacturers to consolidate stampings and achieve cost effective weight reduction for stamped and roll formed parts.
“Our innovative laser welded blank offering continues to expand into new vehicle parts like these heavy gauge, truck rail assemblies,” said Ivan Meltzer, president of TWB Company. “We appreciate the support of the state of Kentucky as we work to grow our business and offer high-quality jobs in the community.”
The Kentucky Economic Development Finance Authority approved the company for tax incentives up to $360,000 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.
The new facility is TWB’s tenth in North America. Additional locations include Michigan, Tennessee, Alabama, one in Ontario, Canada and four in Mexico.
“With Kentucky’s automotive industry thriving and motor vehicle-related companies already in two-thirds of Kentucky counties, it’s no wonder suppliers such as TWB Company continue to locate and expand in our state,” said Gov. Steve Beshear. “I commend TWB both on making the right choice to open in the commonwealth and for distinguishing itself with lightweight, high-strength products, a new hallmark of the auto industry’s shift toward more efficient vehicles.”