One of Russellville’s oldest and largest industry sites, which has been home to many thriving companies including the first Rockwell International in 1958, and most recently Precision Die Cast (PDC), has been acquired by Rane, an Indian auto parts company headquartered in Chennai, India.
The site is located on Hopkinsville Road in Russellville. The plant was scheduled renamed Rane Precision Die Casting, Inc. at a special event planned for Monday on the front lawn to welcome the new owner to our community.
Logan County’s Economic Alliance for Development (LEAD), along with local government, TVA, the Russellville Electric Plant Board and the Kentucky Cabinet for Economic Development have all been working with PDC and Rane for several months to help finalize this acquisition.
“We are excited about the future possibilities with a company fully committed to Russellville and the auto parts business,” said LEAD Executive Director Tom Harned.
Rane is a publicly traded Indian auto components company with 25 plants in India now entering the U.S. market. They currently do business with some of the same U.S. customers as PDC. They plan to retain the approximately 160 employees now at PDC and will expand the business over time as market conditions allow.
Rane PDC emphasizes continuing growth and market share. They have long sought a presence in the U.S. and see this acquisition as an excellent entry point into this market.
Harish Lakshman, Managing Director said, “Rane is excited to be entering the U.S. market and pleased with the opportunity this acquisition presents. We look forward to a long and prosperous relationship with Russellville and Logan County. We are impressed with the quality of the workforce, it being a major factor in our decision.”
Mike Torti, President & CEO added, “Rane brings a wealth of expertise and marketing contacts to the table. We are thrilled to have them on board. Our highly trained employees made this acquisition possible and offers a substantial advantage to Rane going forward.”
Judge-Executive Logan Chick offered, “I congratulate Rane on their arrival in Logan County. By every indication they are a high quality, successful company and will add to the employment in Logan County.”
Mayor Mark Stratton commented, “Russellville welcomes Rane to our city. We are delighted that they have the confidence in our people and community to make this major investment in our future. We want them to grow and prosper and offer our support and assistance.”
Harned congratulated Rane and the present Precision Die Casting management for their many hours of hard work in putting this deal together.
“The former Rockwell plant was the first large industry to locate in Russellville. The plant has added many millions of dollars to the local economy over the 58 years it has been in operation. Its importance to Russellville and Logan County cannot be overstated,” said Harned who expresses his gratitude to the team members who helped to facilitate the acquisition.
“The 175 jobs retained for our community and the ongoing activity at the plant are a real testament to our community and the local workforce. LEAD was pleased to be a part of this successful project,” Harned added.
A special recognition ceremony was held Monday, March 28 to welcome Rane Precision Die Casting to the community.
To contact Chris Cooper, email email@example.com or call 270-726-8394.