April 21, 2005

Ellen Qualls

Linda Wilkinson
Koyo Steering Systems of USA, Inc.
(540) 966-3505 ext. 195
Christie Collins
(804) 371-4074
-Japanese manufacturer to invest $36 million; Governor Warner announced during trade mission to Japan-

OSAKA, JAPAN - Governor Mark R. Warner today announced that Koyo Steering Systems of USA, Inc. will invest $36 million to expand its Botetourt County facility. This project will result in the creation of 96 new jobs. Virginia successfully competed with Tennessee for the project.

“We met with company officials in Osaka to confirm final investment and employment numbers for this project,” said Governor Warner. “Koyo Steering Systems has operated in Botetourt County since 1999. The company places great value on the region’s workforce and this expansion indicates the confidence it has in finding future success in the Roanoke Valley.”

Koyo Steering Systems of USA, Inc. is a U.S. subsidiary of Koyo Seiko Co., Ltd. of Osaka, Japan, which employs more than 16,000 throughout its worldwide subsidiaries. The parent company manufactures steering systems, bearings, automobile components and mechatronics and FA systems. It has facilities in Japan, Asia, Europe and South America, with U.S. operations in South Carolina and Tennessee.

“Koyo Steering Systems USA has found an ideal location in Botetourt County,” said Botetourt County Plant Manager John Goetz. “The education and training facilities have met all our needs including the use of the training center for a Saturday school for the children of our Japanese employees. The local community college has helped provide programs for continual education and the local area high schools have done an excellent job in preparing students to enter our workforce. The Governor's staff has assisted Koyo in finding ways to navigate state programs and workforce development assistance.

“Geographically, Virginia has proven to be ideal for our use of Norfolk's port for the importing of our assembly components and we take advantage of Virginia's excellent highway system to transport our finished products to our customers.”

The Virginia Economic Development Partnership worked with Botetourt County and the Roanoke Economic Development Partnership to secure the project for Virginia.

"We are extremely proud of Koyo Steering System’s significant expansion project which underscores the strong, stable economic environment and local support structure which continue to foster business success here in Botetourt County,” said Terry L. Austin, Chairman, Botetourt County Board of Supervisors. “We are partners in a very bright and prosperous future."


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