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Budd to Build New $50 Million Automotive Chassis Component Plant

TROY, Mich., March 11 /PRNewswire/ -- The Budd Company and Tallent Engineering Ltd. said today that they will build a new automotive manufacturing plant on approximately 50 acres in Hopkinsville, KY, about 60 miles north of Nashville, TN. The initial investment will be nearly $50 million, with employment projected to be 250.

"Responding quickly to automotive customer needs, Budd and Tallent Engineering, its sister Thyssen Budd Automotive partner, expect to have the facility operational in 1998. Site preparation will begin in 1997, and construction in September. The facility will feature 235,000 square feet of production space. A second phase is possible, depending upon market conditions," said Siegfried Buschmann, Chairman of the Executive Board of Thyssen Budd Automotive.

Tallent Engineering Ltd. of Newton Aycliffe, England is well known in Europe as a major leading edge developer and manufacturer of chassis structural and suspension products. Tallent also has product design, development and commercial centers in Japan and the U.S. The Budd Company of Troy, MI is a leading global supplier of automotive components.

Buschmann continued, "This is the first facility to be built as a result of actions taken by Thyssen Budd Automotive, a new company formed by Budd's parent, Thyssen of Germany, to link up its North American and European operations."

The Hopkinsville plant will make chassis components and provide suspension assemblies for automotive vehicle manufacturers. In addition to manufacturing, the facility will include assembly and painting facilities.

Budd operates another Kentucky facility in Shelbyville, which produces steel stamping and assemblies such as fenders, hoods, and doors for its automotive customers. This plant employs about 600.

The Budd Stamping & Frame Division, headquartered in Rochester, MI, also operates steel stamping and assembly plants in Detroit, MI, and Philadelphia, PA, a full frame and chassis component plant in Kitchener, Ontario, and a product development center in Dearborn, MI.

Budd, headquartered in Troy, MI, produces components such as doors, fenders, roofs, hoods, and decklids in sheet metal as well as in sheet molded composite (SMC), and gray iron and ductile iron castings for about 100 current vehicle models. Budd also makes prototypes, chassis frames, and subframes, cold weather starting and heating products, and air bag components for the automobile industry. Budd operates 25 facilities with about 9,000 employees in North America. In addition, the company has offices in Stuttgart, Germany, and Tokyo, Japan.

SOURCE The Budd Company
 -0- 03/11/97

/CONTACT: Paul Sichert of Budd, 810-643-3520/

CO: The Budd Company; Tallent Engineering Ltd.; Thyssen Budd Automotive ST: Kentucky, Michigan, Tennessee IN: AUT SU:

AM -- DETU003 -- 3874 03/11/97 11:42 EST
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Publication:PR Newswire
Date:Mar 11, 1997
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