Tennessee: Auto mirror maker Ficosa building $58M plant in Cookeville
Automotive supplier Ficosa North America is investing $58 million to build a new 270,000-s.f. facility in Cookeville, Tenn., that will create 400 new jobs.
Ficosa, which is headquartered in Spain, focuses on the research, development and production of safety, communication and efficiency systems for the automotive industry.
The company’s existing Tennessee plant in nearby Crossville produces rearview mirror assemblies for Nissan, Ford, Volkswagen, Fiat Chrysler, General Motors and other auto manufacturers. Once the new plant is up and running, Ficosa plans to cease operations in Crossville, transfer the 500 existing Crossville jobs to the new Cookeville facility and add another 400 jobs. The new plant will be equipped to increase production capacity and allow components currently made in China and Mexico to be made in Tennessee.
Ficosa also has a production plant in Shelbyville, Ky., and a sales office and development center in Detroit.
Construction of new facility is already underway and Ficosa will begin limited production from the new factory in mid-2016.
Indiana: Hill-rom Buys Welch Allyn for $2B; will move HQ to Chicago
Hill-Rom, a global medical technology company headquartered in Batesville, Ind., announced in June that it is buying medical device manufacturer Welch Allyn for $2.05 billion in cash and stock. The boards of both companies have approved the transaction and expect to close on the deal by September.
Hill-Rom produces hospital beds, furniture, healthcare equipment and medical technology systems. Welch Allyn manufactures medial diagnostic devices, patient monitoring systems and miniature precision lamps.
Steve Meyer, president and CEO of New York-based Welch Allyn, said, “Hill-Rom has the scale, geographic reach, experience and vision necessary to foster the next stage of growth and to ensure Welch Allyn’s continued success.”
The acquisition will significantly increase Hill-Rom’s size and scale. The combined company will have $2.6 billion in revenues and employ approximately 10,000 employees working in 30 countries.
Hill-Rom also announced that it is relocating its headquarters to Chicago, where its executive team has been located since 2011. According to local reports, the relocation will not affect the operational jobs located in Batesville, where the company is city’s largest employer with approximately 2,100 workers. Hill-Rom has also said it will preserve the Welch Allyn brand and maintain “a substantial presence” in Skaneateles Falls, N.Y., where Welch Allyn is headquartered, and in Tijuana, Mexico, where it has significant operations.
Business Briefs
INDIANA
Automotive parts manufacturer Chiyoda USA Corp. is expanding its operations with the addition of a new 90,000-s.f. facility at its existing U.S. headquarters site in Greencastle, Ind. The new facility, which will house a new paint line, will create 300 new jobs by 2017. The Greencastle location currently has 133 full-time employees as well as 100 temporary workers.
Smith Brothers of Berne, a custom residential furniture manufacturer, is expanding its operations in Berne, Ind., adding 110,000 s.f. to its existing 215,000-s.f. facility to meet increasing demand. Since its inception in 1926, the company has grown to employ more than 420 employees and now sells to retail stores in more than 35 states. The latest expansion will add another 266 jobs by 2021.
Beach Mold & Tool Inc. is investing $23.3 million to expand its injection molding and precision tool manufacturing operations in New Albany, Ind. The company is building a new 140,000-s.f. warehouse adjacent to its manufacturing and assembly plant that will allow the company to convert space at the existing facility to increase manufacturing. The investment will also be used to purchase several large injection-molding presses and to update existing equipment. The expansion will create up to 160 new jobs by 2019.
INDIANA/OHIO
The Cincinnati accounting firm of Ossege Combs & Mann Ltd. has merged with Blue & Co. LLC, an accounting firm headquartered in Carmel, Ind. The combined firm will operate as Blue & Co. and will have a total of 340 professionals operating in 10 offices across Ohio, Indiana, Kentucky and Texas.
OHIO
Cincinnati-based Fifth Third Bancorp has announced plans to consolidate or sell approximately 100 branches in response to changing consumer demographics and customer preferences regarding the way in which they handle banking transactions. The company is also selling 30 other properties that had been purchased for future branch expansion.
TENNESSEE
Nissan North America has announced a 20-year exclusive naming rights partnership with the Tennessee Titans that rebrands Nashville’s downtown stadium as Nissan Stadium. Nissan Stadium will host all Titans home football games, Tennessee State University football games, the Music City Bowl and a variety of concerts and numerous other events. Nissan North America’s headquarters are located in Franklin, Tenn., just outside of Nashville, and the company has operated a vehicle assembly plant in nearby Smyrna since 1983.
Connexion Point, a Utah-based healthcare services company that specializes in customized contact center services for major health insurance companies, is opening a new site in Memphis. The new center will bring 400 new jobs to Memphis.
Financial advising company UBS is investing $11.2 million to open a new office in Franklin, Tenn., just outside of Nashville. The new space will accommodate the growth of the UBS Business Solution Center and serve as a satellite branch office for Wealth Management Americas financial advisors. The expansion will create more than 350 new jobs over the next several years.
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