Community leaders and officials from Denyo Manufacturing Corp. in Danville announced Wednesday that the company has chosen to invest nearly $6.9 million in its Boyle County plant to modernize its plant. Denyo Manufacturing manufactures, assembles and sells industrial electric generators. The new investment will entail the construction of an additional facility to house a new, technologically advanced coating process. The new process will help to minimize errors, hazardous waste, air emissions, energy costs and flammable materials and increase the quality of products and productivity, according to a press release from the governor's office. The project is expected to be completed by March 2012.“This new equipment will allow us to coat larger parts, be more efficient and most importantly, be much more environmentally friendly and allow us to produce a higher quality product,” Tetsuo Kawanishi, president and CEO of Denyo Manufacturing Corp., said. The plant employs more than 100 people.
The Kentucky Economic Development Finance Authority preliminarily approved Denyo Manufacturing for tax incentives up to $783,000 through the Kentucky Reinvestment Act.
KEDFA also approved Denyo for tax benefits up to $60,000 through the Kentucky Enterprise Investment Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
“It’s gratifying to know that Denyo recognizes the solid work ethic of our community,” said Sen. Tom Buford, of Nicholasville. “I appreciate their investment in our people.”
