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Zeon Chemicals, Kentucky Invest in Louisville Manufacturing Facility
Louisville, KY, USA - July 14, 2010 - A Kentucky Reinvestment Bond has been approved for Zeon Chemicals, which is investing $3.5 million in its Louisville manufacturing facility. Tax incentives totaling $1,750,000 will assist in upgrading the facility's utility infrastructure and improving process controls. Both projects are critical to the long-term viability of the plant.
"We're grateful for the incentives approved by the KEFDA which, combined with Zeon Chemicals' investment, will allow us to upgrade our Kentucky facility and maintain the manufacturing jobs this state needs. We have a long history in the Louisville area and by making these improvements, we can remain both competitive globally and strong locally" said Tom Gettelfinger, CEO of Zeon Chemicals.
The manufacturing plant at 4100 Bells Lane produces specialty elastomers for the industrial, housing, adhesive, oil and gas industries and automotive suppliers. The Louisville facility is also home to the company's U.S. corporate headquarters, including sales, marketing, research and development. It currently employs 212 people with an annual payroll of $14.7 million.
"This is another sign that our economy is starting to grow again," said Louisville Metro Mayor Jerry Abramson. Tax credits are available to existing Kentucky manufacturers that make an investment to at least $2.5 million in equipment upgrades. The partnership between Greater Louisville Inc., the Metro Chamber of Commerce, Louisville Metro Government and state government brings new economic opportunities to the community.
About Zeon Chemicals L.P.
Zeon Chemicals L.P. is a wholly owned subsidiary of ZEON Corporation of Tokyo, Japan, a world leader in specialty elastomers, polymers and specialty chemicals. ZEON Corporation is one of the top producers of polymers in the world with plants in Asia, North America and Europe, and Research and Development laboratories in Kawasaki (Japan), Louisville (KY, USA) and Barry (UK).
ZEON Corporation, with combined sales of over US 2.8 billion, utilizes its expertise and basic position in C4 and C5 chemistry to offer a wide range of products. The company employs approximately 3,200 people worldwide.
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