$8.6 million investment to create 60 new jobs
Tennessee Department of Economic and Community Development Commissioner Bob Rolfe and Ohio-based Pennant Moldings Inc. officials announced Monday that the metal stamping manufacturer will invest $8.6 million to establish new operations in Lebanon.
The company will build a 60,000-square-foot facility and create approximately 60 new jobs over the next five years. The new facility will predominantly serve the automotive and appliance industry in the Southeast. Construction on the new plant is underway and expected to be completed in the fourth quarter of 2017.
"On behalf of the citizens of Lebanon, Tennessee, it is my privilege to welcome Pennant Moldings to our city," Lebanon Mayor Bernie Ash said. "Pennant Moldings joins a long list of Lebanon industries that began with a dream and grew through hard work and commitment. I want to express our appreciation to not only Pennant Moldings but to the State of Tennessee, the Tennessee Valley Authority and the JECDB (Joint Economic & Community Development Board) of Wilson County who were part of the economic development efforts."
Wilson County Mayor Randall Hutto added, "I'm proud Wilson County once again distinguished itself as the right match for a company of Pennant Moldings' caliber. I'd also like to express my gratitude and appreciation for those in the community that continue to provide the services and support that led to this decision and made this announcement a reality."
Founded in 1968, Pennant Moldings is based in Sabina, Ohio. The company produces metal stamping, fabrications and roll-formed parts, ranging from small electrical components to large decorative stainless steel doors.
"We spent several years looking for the perfect location to support Pennant Moldings' tremendous growth," Pennant Moldings President and CEO Mike Gaby said. "Some of the most important benchmarks in the search were an outstanding business climate, a skilled workforce and proximity to our markets. The state of Tennessee, Wilson County and the city of Lebanon definitively met our criteria. But most importantly, after spending time in the area and meeting with the people, Wilson County and the city of Lebanon immediately felt like home."