FOR IMMEDIATE RELEASE
May 5, 2008

Columbus, OH -- Lieutenant Governor Lee Fisher today announced a $25,000 Rapid Outreach Grant has been awarded to Teikuro Corporation to purchase machinery and equipment for a proposed expansion in Springfield (Clark County). The project is expected to create 25 jobs and retain 88 positions. The grant was approved today by the State Controlling Board.

"Our automotive industry suppliers are recognizing the many opportunities for growth within Ohio," said Lt. Governor Fisher, who also serves as Director of the Ohio Department of Development. "We are pleased Teikuro is considering expanding here in Ohio, and are excited to partner with automotive suppliers as they provide quality parts and materials for major automakers and create jobs for Ohioans."

Established in 1988, Teikuro is headquartered in San Francisco, California and is a manufacturer of hard chrome surface treatments of stamping dies for the world's automotive industry. Its parent company is Teikuro Inc. of Japan and its end-products, chrome surfaces utilized in automotive stamping, are used by millions of customers.

Teikuro proposes to construct a 19,000-square-foot addition to its current 80,000-square-foot facility in Springfield. The increase in space will allow the company to expand its production lines. Teikuro has created a new process that creates coatings with a smoother finish and allows polishing to a higher level of smoothness than other coating processes. The process is used in draw dies, die castings, moldings, hot and cold forging, flange dies, bend tools, extrusions, and cuttings. Grant funds will support the acquisition of machinery and equipment needed for the proposed expansion.

Ohio is in competition with California and Mississippi for this project. The Rapid Outreach Grant is a grant program to assist companies and communities that are creating or retaining jobs in Ohio.

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Media contacts: Melissa Vince at (614) 466-6619 or Kelly Schlissberg at (614) 466-4133