Iuka Lands New Plant

PRESS RELEASE

JACKSON— Gov. Phil Bryant and officials from laser-welded sheet metal and stamped automotive parts producer hago Automotive Corp. announced today the company is locating operations in Iuka, Miss., in Tishomingo County. The project represents a corporate investment of $10 million and will create 80 jobs. The company is expected to begin operations by mid-2016.

“I appreciate the team at hago Automotive for choosing to locate in Tishomingo County and for creating so many new jobs for the region’s workforce,” Gov. Bryant said. “Mississippi’s automotive industry is a major economic driver for our state, and hago’s decision to locate in Northeast Mississippi further strengthens our position as a leader in the Southern Automotive Corridor. I wish the company many years of success in Iuka.”

“We are excited to join the Mississippi business community and begin operations in Iuka. Our new location will allow hago Automotive to effectively and efficiently serve our customers,” said hago Automotive President and CEO Joerg Goeppert. “We thank the Mississippi Development Authority, Tishomingo County, the Tishomingo County Development Foundation and Tennessee Valley Authority for their support as hago Automotive prepares to locate in Northeast Mississippi.”

Mississippi Development Authority provided assistance in support of the project for the purchase of equipment and for relocation costs. Tishomingo County and Tennessee Valley Authority also assisted with the project.

“We salute our economic development partners in Tishomingo County and at the Tishomingo County Development Foundation and TVA for their partnership with MDA, which contributed to hago Automotive locating in Mississippi, creating career opportunities for the people of Northeast Mississippi,” said MDA Executive Director Glenn McCullough. “MDA looks forward to hago’s long-term success and growth in Tishomingo County.”

The company is a subsidiary of Germany-based hago Feinwerktechnik GmbH. Founded more than 40 years ago, it has grown from a regional tool shop to a specialized manufacturer and global supplier of sheet metal and stamped automotive parts.

From its Iuka location, hago Automotive will perform the following for its customers: automated stamping with up to 400 tons of processing power, transfer stamping with up to 630 tons of pressing power, several laser-welding applications, parts washing and cleaning, parts processing and the production of assemblies. The facility will also house a tool-making department and a test laboratory. For more information, visit www.hago-ft.de/en/.