Great Job News for the Lake Area (Russell Springs)
Posted: Fri Aug 09, 2013 4:13 pm
GREAT NEWS, copied this from some old guy's news feed I have on facebook. 
Governor Steve Beshear announced Friday Dr. Schneider Automotive Systems Inc., a Germany-based automotive supplier, plans to establish a manufacturing operation in Russell Springs. The new plant will create 155 full-time jobs and entail a more than $29 million investment in Kentucky.
The announcement marks the third German-owned company to locate a new operation in Kentucky this year, all three of which serve the auto industry.
"Dr. Schneider Automotive Systems will only add to Kentucky's thriving automotive industry and foreign direct investment, which are both vital components of our growing economy," said Gov. Beshear. "We welcome Dr. Schneider to Russell Springs, and are excited to see 155 new jobs and an investment of more than $29 million in the Commonwealth."
The 85-year-old family enterprise is a pioneer in the processing of plastics and produces high-end vent and trim systems for top automotive original equipment manufacturers around the world. To meet increasing customer demand, the company is looking to establish its wholly-owned U.S. subsidiary in Russell Springs, where the plant will manufacture parts for companies such as Ford, GM, BMW, Mercedes, Volkswagen and more.
"At the end of an intensive selection process where we checked 69 locations, we decided to choose Russell Springs," said Wilhelm Wirth, member of the Dr. Schneider board of directors. "The decisive factors included the quality and expandability of the facility and the competitive location costs. The professional cooperation with the local and state business development departments confirmed our decision as well. We are convinced that at this location we will be able to work more efficiently for our current customers, including Mercedes, BMW and Ford, and that we can win new partners."
Kentucky has experienced tremendous success in foreign direct investment growth, adding nearly 100 new facilities over the past decade. In 2012, nearly 35 percent of all capital investment and almost 20 percent of new jobs announced in the manufacturing, service and technology sector were a result of foreign-owned companies. Kentucky maintains economic development offices in Hamburg, Germany and Tokyo, Japan, which work to cultivate new and existing relationships abroad for the Commonwealth.