Bowling Green, Kentucky, Oct. 28, 2015 (GLOBE NEWSWIRE) -- Today, Presidents Club Gold Star Partner BILSTEIN COLD ROLLED STEEL LP celebrated the groundbreaking of their new plant in the Kentucky Transpark. The project, formally announced in 2013, will bring $130 million in capital investment and create 110 new full time jobs in South Central Kentucky creating an economic impact of $305 million on our community over the next 10 years.
BILSTEIN COLD ROLLED STEEL LP is part of the family-owned German steel processor BILSTEIN GROUP and will produce a wide range of high-precision cold rolled strip steel products . In addition to their original $120 million investment, the company is already expanding with a $10 million slitting operation, bringing the total capital investment to $130 million. The new plant will allow BILSTEIN COLD ROLLED STEEL LP to serve major players in the automotive and automotive supply industry as well as other industries.
"We couldn't be happier to welcome BILSTEIN new investment to Kentucky. The Commonwealth maintains great relationships with German companies, and BILSTEIN's addition reiterates the importance of those relationships," said Gov. Beshear. "With 64 German-owned facilities employing 10,500 full-time workers across the state, it shows our efforts in attracting those companies to Kentucky make a positive impact."
Founded over a century ago in 1911, BILSTEIN GROUP has been able to stay family owned throughout the years and develop multiple partnerships, expansions and acquisitions. BILSTEIN GROUP is now the leader in the cold rolled strip steel market offering steels in various types and grades for a multitude of processing methods to various industries, predominately the automotive industry. Products made using cold rolled strip steel include automatic transmissions and clutches, automobile safety parts, seat track and seat structure parts. Other products include blade steels and cutting steels.
"On behalf of BILSTEIN GROUP I am excited to be here in Bowling Green today to celebrate the ground breaking ceremony of our new production facility," said BILSTEIN GROUP Managing Partner and CEO Marc T. Oehler. "This project is a significant step forward for our North American market strategy. The BILSTEIN COLD ROLLED STEEL LP facility will further accelerate our company's global growth initiatives while providing our customers with demanding cold rolled strip products of the highest quality. The support we have received from the community, the Bowling Green Chamber and the local officials has been invaluable and I look forward to many, many years calling South Central Kentucky our home."
"The addition of internationally known automotive suppliers and metal processors such as BILSTEIN GROUP only reinforces our growing reputation as a hub for the automotive industry. We couldn't be more pleased to celebrate the official groundbreaking of the BILSTEIN GROUP facility," said Mayor Bruce Wilkerson.
"South Central Kentucky has experienced record growth because innovative companies like BILSTEIN GROUP continue to choose to locate here," said Warren County Judge Executive Mike Buchanon. "It's a mutually beneficial relationship. We provide BILSTEIN GROUP with unrivaled infrastructure and transportation logistics and they allow us to be a part of their continued success by investing in the Kentucky Transpark. We are more than excited to be breaking ground today on this outstanding and already growing facility. "
According to Chamber President Ron Bunch, "Because of South Central Kentucky's growing stature as a leader in the automotive industry, it's essential to have world renowned companies like BILSTEIN GROUP in our community. I am very pleased to celebrate this groundbreaking, and am delighted by the opportunities BILSTEIN COLD ROLLED STEEL LP brings to our workforce and our local economy."
The unparalleled collaborative leadership within the region and state ensures this project will be successful and will contribute to the South Central Kentucky region's impressive economic growth.
"We are truly grateful to our partners throughout the community including the City of Bowling Green and Warren County as well as across the state of Kentucky that continue to help grow South Central Kentucky," expressed Chamber Board Chairman Tommy Adams. "It takes everyone's support to help bring a business like BILSTEIN COLD ROLLED STEEL LP to Bowling Green. This would not be the successful city that it is today without this collaboration."
2015 has been an exciting year for economic development in Warren County. So far, we have celebrated a total capital investment of $824,257,235 and the creation of 813 new jobs. In just this year alone, we have earned 85% of the expansion investment and 14% of the jobs that is has taken us over a decade to earn. Similarly, we currently have two of the top five investment projects in the state.
The Bowling Green Area Chamber of Commerce would like to thank members of the Presidents Club for their continued investment in and commitment to economic development in South Central Kentucky.
BILSTEIN COLD ROLLED STEEL LP is currently hiring for several positions, including accounting manager, slitter operator, production team leader, cold rolling mill operator, electromechanical maintenance technician, batch annealing operator, and roll grinder. For more information on BILSTEIN COLD ROLLED STEEL LP or the positions they currently have open, please visit http://www.bilsteincrs.com/.
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About the Bowling Green Area Chamber of Commerce:
Incorporated in 1935, the Bowling Green Area Chamber of Commerce is a 5-Star Accredited Chamber by the U.S. Chamber of Commerce and was named the 2009 Chamber of the Year by the American Chamber of Commerce Executives. As the fourth largest chamber in Kentucky, the Chamber serves as a premier business advocate for its more than 1,200 partners and is the driving force for economic development in South Central Kentucky. Its primary goals are to promote growth and success in the business community, reaching its small business partners and those in large industries alike. With leadership programs, governmental relations projects, educational initiatives and involvement opportunities, the Chamber aims to support the community and its neighbors in order to enhance the business climate and continue to grow the region.
A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=37196
