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SOURCE Autocam Corporation
KENTWOOD, Mich., June 20, 2014 /PRNewswire/ -- Autocam Corporation, a leading precision manufacturer for both the automotive and medical industries, hosted a ribbon cutting ceremony to officially open the doors to its new, state-of-the-art manufacturing facility on Thursday, June 19th. The $10 million investment in Marshall, Michigan is Autocam's latest commitment to job creation and advanced manufacturing technologies. Several VIP guests attended including Governor Rick Synder who participated in the grand opening.
The new facility, Autocam Marshall #2, is the result of a key partnership formed between DENSO Manufacturing Athens Tennessee, a group company of DENSO International America, Inc, and Autocam for precision metal components that will be used in Gasoline Direct Injection fuel systems that DENSO will provide to its Original Equipment Manufacturer (OEM) customers in North America. This partnership has led to significant growth for Autocam with over $20 million of new revenue and 50 additional advanced manufacturing jobs occupying 45% of the new facility. Additional projects, currently in development, will fully utilize the new facility by 2018 generating over $30 million of revenue and adding a total of 85 new advanced manufacturing jobs.
The addition of this refurbished 50,000sq.ft. facility has doubled the footprint of the Autocam Marshall location which is now capable of turning out over $55 million per year in precision machined components and providing over 170 highly skilled jobs.
"Autocam's strategy for over 25 years has been to manufacture products that make our lives better," explained John Kennedy, founder, president and CEO of Autocam Corporation. "Today our customers are introducing fuel saving technologies, such as Gasoline Direct Injection, which is one of the most effective ways to meet the demand for more fuel efficient vehicles. Autocam has stayed true to its strategic focus by producing products for GDI and other fuel saving technologies around the world. In the last 5 years, we have invested over $100 million in people, facilities and process technology to ensure we are positioned at the forefront of advanced manufacturing. It's only fitting that this next big step in our growth occurs here in the great State of Michigan where it all began for us," he added.
Approximately 150 Guests attended: including DENSO senior management, Autocam employees, partners, media, and both local and state government officials.
The following participated in the ceremony as speakers:
"As our OEM customers continue to increase North American vehicle production, not only does DENSO have the opportunity to increase our production, but we're also expanding in new business areas, like gasoline direct injection. It's exciting to see how our recent GDI expansion has led to more expansion news," said Youichi Yamashita, president of DENSO Manufacturing Athens Tennessee, Inc. who assisted in cutting the ribbon along with Autocam's John Kennedy, and the Honorable Rick Snyder, Governor of Michigan.
"This is an exciting day for the community, region and our entire state," said Michigan Governor Rick Snyder. "In addition to the positive economic benefits, this project shows how the power of innovation and collaboration can drive success. It's this type of vision and hard work that is making Michigan the nation's Comeback State. I commend the Autocam and DENSO teams for their partnership and the city of Marshall for its support."
Autocam has had a manufacturing presence in Marshall, Michigan for the past sixteen years and extended special recognition at the grand opening to the city for providing a great place to work and grow.
Autocam, whose global headquarters is in Kentwood, Mich., is a worldwide manufacturer of precision-machine components for major OEMs and Tier 1 automotive suppliers. Autocam specializes in high precision components for emerging fuel system technologies, including gasoline and diesel fuel injection, multi-speed transmissions, Electric power steering and other technologies critical for mandated fuel economy improvements. The company has 15 manufacturing facilities and employs more than 2,000 highly skilled employees in North America, South America, Europe and Asia. For more information visit www.autocam.com.
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers.
In North America, DENSO employs more than 17,000 people at 33 consolidated companies and affiliates. Of these, 28 are manufacturing facilities located in the U.S., Canada and Mexico. In the U.S. alone, DENSO employs more than 14,000 people in California, Alabama, Michigan, North Carolina, South Carolina, Tennessee, Kentucky, Georgia, Iowa, Ohio, Arkansas, Alabama and Pennsylvania. DENSO's North American consolidated sales totaling US$7.9 billion for the fiscal year ending March 31, 2014.
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