Oiles Plans Concord Bearing Plant Expansion
Resource from: www.ebearing.com Likes:2996
May 21,2004
Oiles Corp. (Japan, via its U.S. arm, Oiles America) is planning a second phase expansion of its oil-less bearing manufacturing plant in Concord, South Carolina.
Founded in 1952, Oiles is a diversified manufacturing and engineering company headquartered in Tokyo. Its primary business is Oiles Bearing, a world leader in self-lubricating bearings. The company employs over 1,000 people in 15 subsidiaries worldwide.
Located in the Concord International Business Park, the Oiles America facility came online in early 1991. Oiles was the first company to locate in the Park, and simultaneously became the first Japanese company ever to set up an operation in Cabarras County.
On a 25 acre parcel, the plant was originally 30,000 square feet. It was expanded in 1996-1997 and currently employs just over 80 people.
This next expansion phase plans an additional 32,000 square feet of manufacturing floorspace. When it is up and running, Oiles' total employment in Concord should top 100.
The International Business Park, as the name implies, is set up to attract foreign investment. Concord and Cabarras County offer a number of incentive packages to attract the facilities, including property tax rebates.
The Oiles expansion qualifies for an economic stimulus package which involves rebating from 75% to 85% of the additional real estate taxes paid during the first five years after any plant expansion project.
Oiles America is headquartered in Plymouth, Michigan, where another expansion project is reportedly under consideration.
Oiles manufactures bearings with graphite, polyacetyl, sintered and tetrafluoroethylene surfaces on a wide variety of base materials, producing an extensive product lineup for rotating and linear motion applications.
The company's bearings are used in everything from small precision machine tools to industrial equipment to automotive applications to the pivot of the world's first floating, rotating highway bridge in Osaka. One of those rotating bridge bearings weighs over 16,200kg. Other more common applications include food processing, cigarette manufacturing and environmentally-sensitive areas where eliminating the potential for oil contamination is a key design parameter.
The Concord facility is a key Tier 1 parts supplier to General Motors and other auto manufacturers.
(www.ebearing.com)
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