Tekfor Looking to Grow

Feb. 18, 2009
Forger in Wooster, OH, hoping to benefit from economic crisis.

On Feb 16, 2009, Tekfor President David Griffin called together national, state, and local officials to share information that the forging compnay has been flooded with requests for quotes from companies hoping to use it should their primary suppliers fold under the economic downturn.

According to a report in the Wooster Daily Record, Griffin indicated that Tekfor has talked with nine companies about possible orders that could total $135.4 million between June 2009 and June 2010.

He also said that in order to take advantage of those possibilities, the company would need to make a large capital investment and increase its employment base. He said that he is searching for any local, state or federal assistance to help facilitate.

In the article, Griffin is quoted as saying, "There have been a lot of new opportunities presented to us. Toyota's knocking on the door, Honda and Nissan are knocking on the door, but a lot of it is also because our customers are concerned their suppliers will go out of business. They want to get us as kind of a Plan B in case they do go out.” Griffin took over as president at Tekfor in April.

Of the $135.4 million in requests, Griffin reportedly said he's 90 percent confident in getting about $26 million and about 26 new jobs of that business. The company does about $36 million in sales annually and employs 160.

The company produces parts for transmissions, chassis, drivelines, and engines, as well as fasteners and other special applications. In January the company signed a contract with General Motors to produce pinion gears -- the first direct-supply contract it's had with a large automaker.

According to Griffin, the company would need to invest about $7.5 million in new machinery to facilitate the growth.

The Wooster company is part of the Neumayer Tekfor Group based in Hausach, Germany. In addition to its U.S. presence, it has operations in Europe, South America, and Asia. For additional information, go to www.tekforusa.com and to the corporate website at www.neumayer-holding.com/en/index.shtml