German auto supplier ready to begin production, create 155 new jobs
RUSSELL SPRINGS, Ky. (April 16, 2014) – Company officials and local and state leaders today celebrated the opening of Dr. Schneider Automotive Systems Inc. in Russell Springs.
The Germany-based automotive supplier cut the ribbon on its $29 million parts manufacturing operation. The plant will create 155 full-time jobs.
[pullquote_left]In 2014, nearly 40 percent of all capital investment and more than 30 percent of new jobs announced in the manufacturing, service and technology sector were a result of foreign-owned companies.[/pullquote_left]
“This is an exciting day for Dr. Schneider Automotive Systems and Kentucky’s thriving auto industry,” said Gov. Steve Beshear. “Since announcing this project last year, Dr. Schneider has become greatly involved in the community and invested in our workforce. I’m honored to participate in today’s opening celebration and I look forward to seeing these Kentucky-made products around the world.”
Dr. Schneider Automotive Systems began renovating the former Hitachi Cable building in Russell Springs in the fall of 2013. The 64,000-s.f. plant will manufacture parts for companies such as Ford, BMW, Mercedes, Audi and more.
“Dr. Schneider Automotive Systems Inc. is very proud to be part of the Russell Springs community,” said Torsten Langguth, Dr. Schneider Automotive Systems’ plant manager. “We are also very happy to announce that we successfully started production only three months after starting the hiring process. We found great employees and we are in the process of building a great team. This will be the foundation for a perfect future of Dr. Schneider here in Kentucky. The business prospects are more than encouraging, and we believe there will be great growth opportunities for our company here in Russell County.”
An 85-year-old family enterprise, Dr. Schneider Automotive Systems 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.
Kentucky has experienced tremendous success in foreign direct investment growth. Last year, nearly 40 percent of all capital investment and more than 30 percent of new jobs announced in the manufacturing, service and technology sector were a result of foreign-owned companies.
Dr. Schneider Automotive Systems’ investment also further strengthens Kentucky’s auto industry, which boasts more than 460 motor vehicle-related facilities across the state, employing 82,000 people. Kentucky ranks third in light vehicle production in the United States and first on a per capita basis. The Commonwealth’s motor vehicle exports reached a record $5.5 billion in 2013.
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $4 million through the Kentucky Business Investment program. 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.
For more information on Dr. Schneider Automotive Systems, visit dr-schneider.com/en.