Date: 2013-08-01

NTN Joint Venture Company Building Axle Plant in Indiana

NTK Precision Axle has chosen Frankfort, Indiana for the location of its new automotive and light truck axle component plant, according to Clinton County development authorities.

NTK is a joint venture of NTN USA Corp. (a division of NTN Corp., Japan), Takoa Kogyo Co. Ltd., and Netsuren USA Inc. The company will manufacture bearings and CV joint axle components, primarily for NTN Driveshaft's plant in Columbus, Indiana.

Frankfort and Champaign, Illinois were the final two locations under consideration for the plant. Frankfort is a town of 16,000 people in northwest central Indiana, near Indianapolis. NTN Driveshaft is in Columbus, not far away in Bartholomew County, southeast of Indianapolis. Indiana and Clinton County development authorities reportedly worked together to offer a package of property tax and investment incentives totaling $8 million for the company to locate in Frankfort.

The NTK venture will reportedly spend at least $41 million on the Frankfort facility; the first phase is planned to cover about 100,000 square feet and will employ approximately 100 workers.

The new plant is part of NTN's plan to greatly expand its production of CV joint axle shafts and also to eliminate outsourcing the shafts themselves.

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