INDUSTRY news
Rane (Madras) Planning to Invest $5.8 Million in Kentucky Facility
Rane (Madras), Chennai, India, is planning to invest $5.8 million into Precision Die Casting, Russellville, Kentucky, which it purchased in Feb- ruary. T e investment is expected to preserve 170 jobs at the plant, which is a supplier to the automotive industry. Kentucky governor Matt Bevin
made the announcement, and wel- comed the infusion of funds to the facility and state as a whole. “Rane’s recent investment in
Logan County brings a welcome lift to southcentral Kentucky,” Bevin said. “It demonstrates the impact that economic developers can have when matching the interests of local and international companies. Rane Preci- sion Die Casting’s investment will fuel the continued growth in our au- tomotive industry and provide quality jobs for the region. We are grateful for their longstanding commitment to manufacturing in Kentucky.” According to local reports, the in-
vestment will help pay for new tools, machinery and also improve equip- ment already in place. “Rane is encouraged by the sup-
port provided by T e Logan Eco- nomic Alliance for Development, the Logan Industrial Development Authority, the City of Russellville, Logan County, and the Kentucky Cabinet for Economic Develop- ment,” said Harish Lakshman, chair- man, Rane Precision Die Casting Inc. “We are impressed with the quality of the workforce. Rane is confi dent of reviving the business back to profi t- ability over the next few years. We look forward to a long and prosper- ous relationship with Russellville and Logan County.” T e facility began in 1956 as a
captive high pressure aluminum diecaster owned by Rockwell Manu- facturing. Today, according to its website, the facility specializes in high volume, pressure tight, thin wall, low porosity cast and machined alumi- num diecastings. It has 28 diecast machines at its 255,000-sq. ft. plant. When Rane (Madras) fi rst pur-
Jul/Aug 2016 | METAL CASTING DESIGN & PURCHASING | 11
chased the facility, the investment was embraced by state politicians. “It’s an honor to welcome Rane to our county as the new owner and steward of Precision Die Casting,” said state representative Martha Jane King. “We are proud that our trained workforce at the existing plant was the reason Rane chose Logan County over a Mexican location for its fi rst North American plant. I want to thank its
leaders for taking this step to invest in our community and its employees, and I also appreciate those local and state leaders who have worked with the company to make this possible.” Rane (Madras) is part of Rane
Group, a global supplier of steering and suspension systems, friction materi- als, valve train components, occupant safety systems, diecasting products and aerospace-grade wiring harnesses.
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