RELEASE:  Gov. Beshear Announces Denyo Manufacturing to Reinvest in Danville Plant, Retain 101 Kentucky Jobs
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RELEASE: Gov. Beshear Announces Denyo Manufacturing to Reinvest in Danville Plant, Retain 101 Kentucky Jobs

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This is a 9-6-11 media release announcing Denyo Manufacturing Corporation's reinvestment of $6.9 million in its Danville facility to construct a new plant addition to house a high-tech finishing......

This is a 9-6-11 media release announcing Denyo Manufacturing Corporation's reinvestment of $6.9 million in its Danville facility to construct a new plant addition to house a high-tech finishing and e-coating operation.

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  • 1. Commonwealth of Kentucky Office of the GovernorFOR IMMEDIATE RELEASE Contact:Kerri Richardson 502.564.2611 502.330.6633 Terry Sebastian 502.564.2611 502.229.6130 Mandy Lambert 502.564.4886Gov. Beshear Announces Denyo Manufacturing to Reinvest in Danville Plant, Retain 101 Kentucky Jobs Company’s nearly $6.9 million investment to entail construction of new facilityDANVILLE, Ky. (Sept. 6, 2011) – Governor Steve Beshear today joined communityleaders and officials from Denyo Manufacturing Corporation in Danville to announce thecompany has chosen to invest nearly $6.9 million in its Boyle County plant to modernizeits processes and improve product quality. The investment, which was made possible bythe approval of state incentives, allows the plant to retain its existing 101 Kentuckyemployees.“Kentucky is now equipped better than ever to assist not only companies locating andexpanding in the Commonwealth, but also our existing companies that need to makecritical investments in their Kentucky operations to remain competitive and retain jobs,”Gov. Beshear said. “Denyo Manufacturing employs just over 100 Kentuckians andbecause of this nearly $6.9 million investment, these employees will continue to havequality jobs at the Danville plant.”Denyo Manufacturing manufactures, assembles and sells industrial electric generators.The new investment will entail the construction of an additional facility to house a new,technologically advanced coating process. The new process will help to minimize errors,hazardous waste, air emissions, energy costs and flammable materials and increase thequality of products and productivity. The project is expected to be completed by March2012.
  • 2. “This new equipment will allow us to coat larger parts, be more efficient and mostimportantly, be much more environmentally friendly and allow us to produce a higherquality product,” said Tetsuo Kawanishi, president and CEO of Denyo ManufacturingCorporation. “We appreciate the continued outstanding support we have received fromGov. Beshear and the Cabinet for Economic Development. Denyo’s approval for stateincentives played a huge part in our decision to expand our building and reinvest in newprocess equipment. We are also thankful to Boyle County Judge-Executive HaroldMcKinney, Danville Mayor Bernie Hunstad, Jody Lassiter and the Industrial Foundation,as well as the entire Economic Development Partnership for always being a big asset tous.”The Kentucky Economic Development Finance Authority (KEDFA) preliminarilyapproved Denyo Manufacturing for tax incentives up to $783,000 through the KentuckyReinvestment Act (KRA). The program, which was expanded in the Governor’sIncentives for a New Kentucky legislation in 2009, is designed to assist companies thatneed to make significant capital investment in Kentucky facilities in order to remaincompetitive.KEDFA also approved Denyo for tax benefits up to $60,000 through the KentuckyEnterprise Investment Act, which allows approved companies to recoup Kentucky salesand use tax on construction costs, building fixtures, equipment used in research anddevelopment and electronic processing equipment.“The Danville facility, paint process and equipment are 15 years old, and it was necessaryfor Denyo Manufacturing to modernize its manufacturing process to stay competitive andimprove the quality of their product,” said Economic Development Secretary LarryHayes. “Without the approval of KRA incentives, the project would most likely havegone to the company’s Vietnam plant.”“It’s gratifying to know that Denyo recognizes the solid work ethic of our community,”said Sen. Tom Buford, of Nicholasville. “I appreciate their investment in our people.”“Denyo Manufacturing has been an outstanding corporate neighbor for the last 15 years,producing their 40,000 generator at their Boyle County plant,” said Rep. Mike Harmon,of Danville. “Today’s expansion announcement is proof of that fruitful partnershipformed between Denyo and Boyle County in 1996, and everyone involved including theemployees at this facility should be applauded for their continued hard work andcontributions to our community.”“On behalf of the citizens of Danville, I thank Denyo Manufacturing Corporation forexpressing strong confidence in our local workforce and business environment bychoosing to make a significant capital reinvestment in the company’s local facility,” saidDanville Mayor Bernie Hunstad. “We are a committed partner that supports the needs ofbusiness and industry, and Denyo can count on us to help them in any way possible toprosper and grow.”
  • 3. “Denyo Manufacturing has been a valued corporate citizen in our county since 1995,”said Boyle County Judge-Executive Harold McKinney. “Danville is home to Denyo’sonly manufacturing facility in the United States in what is an increasingly competitiveglobal market. Denyo’s capital reinvestment in our plant facility will introduce newtechnologies and increase manufacturing capacity for future growth.”For more information on Denyo Manufacturing, visitwww.denyo.co.jp/english/group/dmc.html.Information on Kentucky’s economic development efforts and programs is available atwww.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also jointhe discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitterat www.Twitter.com/ThinkKentucky.A detailed community profile for Danville (Boyle County) can be viewed athttp://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=114.