Textron and Minority Owned Firm Break Ground for New Complex
28 September 1999
Textron and Award-Winning Minority Owned Firm Break Ground for New Complex in Renaissance Zone
Detroit Heading Company Celebrates Joint Venture
with Textron Fastening Systems Automotive
DETROIT, Sept. 27 -- Detroit Heading Company (DHC) and
Textron Fastening Systems Automotive (T.F.S.A.), along with State of Michigan
and City of Detroit officials, will celebrate the groundbreaking of a new
minority-owned joint venture to manufacture and distribute automotive
fasteners in Detroit's Lynch Road Renaissance subzone. The official
groundbreaking ceremony will take place at 11:30 a.m., Tuesday, October 12,
1999 on the construction site at 6445 Lynch Road. Both Detroit Mayor Dennis
Archer and Michigan Governor John Engler are expected to attend.
The Detroit Heading Company, an African-American owned firm founded by
Thomas Sims Jr. in 1988, supplies the automotive industry with steel
fasteners. DHC has earned General Motors Worldwide "Supplier of the Year"
award for three consecutive years. The Textron project, which also includes
construction of a just-in-time distribution center, represents a total
investment of up to $13.5 million. Customers supplied by the new facilities
include General Motors, Ford Motor Company, DaimlerChrysler, and other
automotive tier customers.
When asked about his key to success, Sims said, "I have found that people,
not machines or numbers, are the true value of any business. I have always
put my fellow employees first and used their strengths and drive to obtain the
goals of the company."
Textron Fastening Systems Automotive, a division of TEXTRON, is the
world's largest supplier of automotive fasteners. In an effort to create new
jobs and initiate development for Detroit, T.F.S.A. affirms its strong
commitment to excellence in automotive manufacturing by forming this joint
venture to serve the needs of the rapidly expanding North American fastener
market.
Both companies stress their commitment to the revitalization of the City
of Detroit, as well as the central location of this site, as the reason for
their joint venture. The move is expected to create 40 new jobs.
Recognizing the greater benefits of increased investment, the Economic
Development Corporation of the City of Detroit sold the 11-acre site on Lynch
Road to T.F.S.A. and is providing more than $700,000 in tax abatements.
"Over $100 million of investment has been made within the Renaissance
Zones in the city of Detroit since January 1, 1997," said Karen O'Donoghue,
Executive Vice President, Detroit Economic Growth Corporation. "We continue
to market development sites to provide additional opportunities for companies
to invest in the city of Detroit. We believe the incentive provided under the
Renaissance Zone's benefits are extremely attractive to manufacturing
businesses. Several of the investments have been joint venture partnerships,
predominantly owned and operated by minorities.
"Detroit Heading Company and Textron Fastening Systems Automotive is
successfully creating a "world class" facility in Detroit's Renaissance Zone.
The new jobs and revenue this project is bringing to the community are another
large step in the revitalization of the city. We look forward to continued
success in attracting new businesses to the city of Detroit."
"I commend Detroit Heading Company and Textron Fastening Systems
Automotive for their decision to build in a Renaissance Zone," said Doug
Rothwell, president and CEO of the Michigan Economic Development Corporation.
"Their commitment to the people of Detroit is exemplary. It is because of
actions like this that Detroit continues to grow. They are truly valued
members of Michigan's business community."
The 97,000-square foot facility will be constructed to provide
manufacturing and office space for Detroit Heading Company. A 100,000-square
foot distribution center currently being constructed will share the grounds
adjacent to the manufacturing facility.
For more information call First Media Group at 248-354-8705 or
313-701-3155.