Archive for the ‘Manufacturing’ Category
Yokohama Tire Manufacturing Mississippi will conduct two Employment Informational Sessions on Saturday, Dec. 21, at 10 a.m. and 1 p.m.
The company in September broke ground on the facility it’s building near West Point. The plant, which is expected to open in 2015, will produce 1 million tires annually during the first phase of construction and manufacturing, which will lead to 500 jobs. Officials hope for three additional phases to add another 1,500 jobs and another $700 million in investment.
The employment sessions on Dec. 21 will be at the Lyceum auditorium at East Mississippi Community College’s Golden Triangle campus in Mayhew.
This is import ant: Attendees will not be able to submit applications for employment. Rather, the sessions are designed to give job-seekers a clear idea of what the process of applying will involve and a timetable for preparatory training and qualification requirements.
In case you missed it from my tweets earlier today,(@dennisseid), Aluma-Form of Memphis is opening a 70,000-80,000 square foot manufacturing and distribution facility in the Walnut Industrial Park.
Walnut, in Tippah County, is some 50 miles east of Memphis, where the 50-year-old company has a 160,000 square-foot facility.
The company has doubled in size since 2008, and it needed another manufacturing site.
Walnut was one of four sites the company looked at.
The company plans to be up and running on its 17-acre site in Walnut by this time next year, and will create 125 jobs.
The company makes overhead power distribution products for domestic and international customers. And what are overhead power distribution products? If you look at a utility pole – a light pole – and look at the top. you’ll see various brackets, braces, insulating arms, etc. That’s what Aluma-Form makes.
The company is investing $6.7 million.
The state is also providing some incentives, including $400,000 for relocation, $697,500 for workforce training and recruitment, $1 million for infrastructure improvements and a $4.4 million loan to Tippah County for capital improvements and construction. In addition, the Appalachian Regional Commission provided a $200,000 grant for site preparation and TVA provided a $170,000 grant.
In local matching money, Tippah County is providing $155,000 for parking and public utility work and Walnut is adding $40,000.
More in tomorrow’s Daily Journal.
Industry trade publication Furniture Today recently released its annual “The List” which ranks the industry’s top retailers and suppliers.
The Dufresne-Spencer Group, which got its start as the Spencer Group in Saltillo, is now No. 59 on the list of the top 100 retailers in the country. Headed by Jim Spencer, the Spencer Group got its start in 2002. It first made the Top 100 list in 2009 at No. 88, with 2008 sales of $61.1 million. A year later, it moved up to No. 74.
This year, the company the company reached its rank based on sales of $98 million for 2012.
The Spencer Group entered a partnership with Canada-based Dufresne, which has paid dividends. DSG has more than doubled the number of stores it had from just four years ago. It now owns 19 furniture stores – including 14 Ashley-branded stores – in Arkansas, Alabama, Kentucky, Mississippi, Tennessee and Texas. It recently acquired seven stores in Kentucky and Indiana.
For 2013, it expects sales of about $125 million, which will move it up the Top 100 list even faster, likely putting it in the top 50. With the growth it’s been experiencing, DSG could reach sales of $250 million in 2014. That would put it in the top 25. Read the rest of this entry »
Toyota Motor Manufacturing Mississippi, or TMMMS, has been assembling Corolla sedans for more than two years now, and now we know a little more about the place. Previously, we were able to see the assembly area only, but today, media members were able to see stamping, body weld and paint areas as well.
Here are some facts and figures:
- TMMMS employs 2,000 people, and another 500 work for on-site suppliers. Another 1,500 employees work for seven other suppliers to the plant.
- The assembly shop is the largest area of the plant at 942,000 square feet. The entire plant covers 2 million square feet.
- Assembly has 608 team members (employees) that install 1,739 parts on a base-model Corolla
- A Corolla rolls off the assembly line every 78 seconds, or some 160,000 per year.
- TMMMS has three on-site suppliers.
- The Final 2 assembly line is where weather-stripping, seats and bumpers are installed. They’re delivered by Diversity Vuteq, the largest onsite supplier
- The final inspection line has 18 process where more than 500 elements are inspected before the cars are given the OK to be sold.
- The plant has two work shifts – Red shift (6:30 a.m. to 3:15 p.m.) and White shift (6:30 p.m. to 3:15 a.m.) – which rotate every two weeks. Read the rest of this entry »
Sean Suggs is the new vice president of administration for Toyota Motor Manufacturing Mississippi.He replaces Doug Formby, who announced his retirement recently.
Suggs, 48, takes over Jan. 31.
He joined TMMMS Nov. 4 after working for Nissan for seveeral years. Most recently, he was director of strategy, administration and human resources from 2011-2013 for Nissan’s North American headquarters in Tennessee.
“I’ve worked 10 years for Toyota and six with Nissan,” Suggs.
He is no stranger to Mississippi, either. Before his stint at Nissan’s headquarters, he headed production quality at Nissan’s Canton plant.
As mentioned earlier, this is Suggs’ second stint with Toyota. He started his automotive industry career in 1998 at Toyota Motor Manufacturing Indiana in 1998. He was named general manager of quality planning in 2008 at TMMI and oversaw professional development, vehicle quality and manufacturing quality for current and new model production.
“It is a great privilege to be asked to lead Toyota Mississippi at this important moment in this plant’s history,” he said. “I started my automotive career with Toyota, so this is like coming home.”
He earned his Bachelor of Science degree from Oakland City College in Oakland City, Ind., and his MBA from Auburn University.
He and his wife, Janet, have six children.
Read more in Wednesday’s Daily Journal.
Former Furniture Brands International president and CEO Ralph Scozzafava and the company’s former CFO Vance Johnston are asking the U.S. Bankruptcy Court of the District of Delaware have asked to have access to a $15 million insurance policy that would help pay for potential lawsuits.
Scozzafava and Johnston, who left the company on Nov. 25 after KPS Capital Partners completed its $280 million purchase of the company, had bought Executive Edge Broad Form Management Liability Insurance Policy issued by American International Group, Inc., National Union Fire Insurance Company of Pittsburgh, Pa. The policy is affective April 30 of this year to April 30, 2014.
Both men are facing lawsuits that claim they misled investors regarding the health of the former Furniture Brands, which filed for Chapter 11 bankruptcy protection on Sept. 9.
KPS bought the majority of the assets of Furniture Brands and renamed them under a new umbrella company, Heritage Home Group.
Meanwhile, what remains of the old Furniture Brands has been renamed Furniture Brands Wind Down.
The insurance policy provides up to $15 million of insurance coverage, including coverage for legal fees and related expenses that might be incurred defending the claims.
Attorneys for the former executives, according to the Winston-Salem Journal said they “bargained for and relied on the protection afforded to them by the policy, and it would be unjust to strip them of that benefit when they need it most.”
“Further, if stripped of that benefit, the insureds may suffer substantial and irreparable harm.”
Objections are due to the court by Dec. 20. A hearing will be held Jan. 7.
Now that bankrupt Furniture Brands International has completed the sale of most of its assets to KPS Capital Partners, it’s time to wind down what’s left of the company.
To that end, Furniture Brands is now FBI Wind Down Inc.
Former FBI chief administrative officer, general counsel and corporate secretary Meredith Graham, 41, is leading FBI Wind Down as it closes its books and ties up loose ends. She’ll be paid her base salary of $286,000 on a pro-rated basis. She’ll be employed up to six months.
KPS completed its $280 million purchase of Furniture Brands on Nov. 25, getting Lane, Broyhill, Thomasville, Drexel Heritage, Maitland- Smith, Henredon, Hickory Chair, Pearson, La Barge and Lane Venture.
KPS put all of the brands under control of a new company, Heritage Home Group, which has assumed Furniture Brands’ former website.
Lane Furniture Industries employed about 1,400 people in Northeast Mississippi prior to Furniture Brands’ Sept. 9 Chapter 11 bankruptcy filing. It’s not known how many remain employed at Lane or at the other brands. However, KPS said it would offer employment to most of the employees of the brands.
Also as a result of the KPS purchase, Ralph Scozzafava, the former CEO of Furniture Brands, and Vance Johnston, its former CFO were ousted from the company. Also let go were the presidents of Lane and Hickory Chair.
In addition, the former board of directosr for Furniture Brands – Ira D. Kaplan, Ann S. Lieff, Aubrey B. Patterson, Dr. George E. Ross and Scozzafava – was let go. Read the rest of this entry »