Asahi Bluegrass Forge Corp. started construction recently for its second plant in Richmond, KY, a $20.3-million project. The Kentucky Economic Development Finance Authority approved the company for tax incentives up to $1 million through its Kentucky Business Investment program. Total incentives from Kentucky and local officials amount to about $2.1 million, according to reports.
The new press forging operation could be in operation by early 2012, according to reports, with up to 50 employees.
Asahi Bluegrass Forge is a subsidiary of Japan’s Asahi Forge Corp. that manufactures wheel hubs, mostly for Honda of America Cor. The new plant will replicated its current operation in Richmond, which was established in 2002.
Asahi Forge produces gears, bearings, joints, and transmission parts for the automotive industry.
Asahi Bluegrass Forge Starts New Construction
Second Kentucky plant to be operating in early 2012