News

TVA loan supports new automotive supplier

Topre America, a Japanese manufacturer of automotive parts for Honda, Toyota, Nissan, and Mercedes, has opened a new manufacturing facility in Cullman, Alabama, with help from TVA’s Economic Development Loan Fund. The project will create 250 new jobs with a capital investment of almost $125 million.

Topre is building a new production facility in Cullman. Initially, this metal stamping facility will supply products mainly to Japanese companies. The facility will also receive orders from local and European carmakers. Construction of the first of three 250,000-square-foot phases began in October, with completion by early 2004. Topre will used the EDLF funds to help in purchasing equipment. The company was founded in Japan in 1935.