High precision automotive components manufacturer to invest $3.1 million, create 30 jobs
NASHVILLE— Tennessee Department of Economic and Community Development Commissioner Randy Boyd along with FAIST Light Metals officials announced today the company will locate new manufacturing operations in Lauderdale County. The automotive components manufacturer will invest $3.1 million and create 30 new jobs in Ripley.
“We welcome FAIST Light Metals to Team Tennessee and thank the company for choosing Ripley for its newest operations,” Boyd said. “We are fortunate to have great partners positioned throughout the state, and we appreciate the leadership of Ripley and Lauderdale County in helping to make this project a win for West Tennessee. I look forward to building a strong partnership with FAIST in the years ahead.”
“FAIST is excited to add the new facility, employees and capability in Ripley and are looking forward to the opportunity of growing the business in partnership with our customers and business partners,” FAIST Light Metals CEO Meik Andriani said. “We also want to thank the local and state officials for their assistance with making this acquisition as seamless as possible in such a quick manner. We look forward to a continued partnership between FAIST and the local and state governments.”
FAIST Light Metals, a division of FAIST Industrial Group, specializes in high quality aluminum die casting, precision machining and surface plating of components and assemblies for the telecom, automotive, electronics and industrial markets. The Ripley location will function primarily as a manufacturing facility for high precision automotive components, such as engines and power trains operations, but will expand operations into a die-cast facility in the future.
FAIST has purchased a 65,000 square foot facility located on 23 acres at 50 Walker St. which allows for future growth. Headquartered in Italy, the Ripley plant will be the company’s third location in North America.
To learn more about FAIST Light Metals, visit faistgroup.com.
Ripley and Lauderdale County are represented by Sen. Ed Jackson (R – Jackson) and Rep. Craig Fitzhugh (D – Ripley) in the Tennessee General Assembly.
Jeff McCain, NAFTA Business Development Manager
FAIST Light Metals
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.