CHICAGO Bearings makers NSK Corp. and NSK Precision America Inc. will invest $30.2 million to equip and renovate two facilities at their Franklin, Ind., manufacturing complex, according to the Indiana Economic Development Corp. (IEDC).
The two facilities slated for renovation will house additional taper rolling bearing lines as well as linear motion production equipment and other improvements, IEDC said. The upgrades are expected to be completed by 2016.
The companies, both subsidiaries of Japans NSK Ltd., expect to create up to 46 new jobs on the 63-acre campus in Franklin. NSK, which currently has 400 full-time employees in Franklin and more than 2,400 employees nationally, plans to begin hiring machine operators, manufacturing associates, engineers and quality control associates in October.
"NSK has been manufacturing in Franklin for more than 20 years. I am delighted that we are still able to grow and develop new technologies and processes here in Franklin," NSK Americas chief executive officer Brian Lindsay said in a statement.
NSK makes and distributes roller bearings, ball bearings, precision ground ball screws and other components for automotive and industrial applications from facilities in Indiana, Iowa, Michigan, Tennessee and Vermont.
NSKs expansion in Franklin is the latest example of Japanese companies continued investment in Indiana. Toyota Motor Manufacturing, Subaru of Indiana and Honda Manufacturing of Indiana are among the more than 75 Japanese companies that have located or expanded in Indiana, accounting for more than 9,300 projected new jobs and more than $4 billion in capital investment, IEDC said.