May 16, 2006

Governor Closes Deal to Create 153 New Jobs, $33.9 Million in Investments

LANSING – After meetings today with executives of major Japanese companies, Governor Jennifer M. Granholm announced that Konica Minolta Holdings, Meiden America, Taichi-S and Shikoku Cable Company plan expansions in Michigan. The four projects are expected to generate $33.9 million in private investment and create 153 new jobs. The announcements came during Granholm’s three-day investment mission in Japan with Michigan Economic Development Corporation President and CEO James C. Epolito.

“Our willingness to go anywhere and do anything to create jobs is working, and on the first day of our mission, we can already announce expansions and job creation,” Granholm said. “Clearly last year’s trip continues to pay off as we build these beneficial relationships that are critical if Michigan is to thrive in the global 21st century economy.” 

Granholm said that in each case, these are companies she had met with in the past or has been working with to encourage expansion in Michigan.

The expansions announced today include:

• Konica Minolta Holdings that recently purchased newspaper printing plate manufacturer American Litho in Grand Rapids. Konica plans a second phase expansion of the facility which is expected to create $13.3 million in investment and 81 new jobs over the next year.

• Heavy electrical equipment manufacturer Meiden America that plans to expand its Michigan presence.  The company will open a new facility which is expected to create 50 new jobs and $10 million in private investment. The company currently employs seven people at their Novi office.

• Shikoku Cable Company that plans to expand its sales operations in Novi. The company manufactures coaxial cable for the satellite and cable television industry. The project is expected to invest $250,000 and create two new jobs.

• Automotive seating manufacturer Taichi-S that is planning to expand its existing engineering facility in Farmington Hills. The project is expected to create $700,000 in private investment and 20 new jobs. The company also operates a subsidiary know as Technotrim in Livonia that makes automotive seat covers.

Granholm also met with officials of Hitachi Automotive Products and Nippon Piston Ring. Both companies are currently expanding in Farmington Hills and Grand Haven, respectively. She announced the projects during her investment mission to Japan last July.  Hitachi officials indicated they are looking to partner with Michigan businesses on upcoming projects and will be holding a seminar in Michigan this July to advance that goal.
 
“In a global marketplace, being willing to sit down face-to-face with a potential client is sometimes critical,” Epolito said.  “We’re selling Michigan as the best place in America to do business, and we’re pleased to be able to close the deal.”
 
The investment mission’s purpose is to forge stronger alliances with the leaders of Japan’s automotive and new-technology industries and attract new, job-creating business developments to Michigan.