Oklahoma Governor Mary Fallin and Secretary Dave Lopez of the Oklahoma Department of Commerce announced Monday that a new production facility for aerospace components will be coming to Stillwater.
The Belgium-based Asco Incorporated is a technology specialist and world-class provider of supply chain integration in design, development, precision machining, processing, and certified assembly of complex high strength metallic aircraft components. The company specializes in lift devices, mechanical assemblies and major functional components for the aerospace industry.
The new Stillwater plant will represent the latest in technology and lean manufacturing practices. With this comprehensive manufacturing in North America Asco will be prepared to meet the needs of clients and ramp up new and legacy programs.
"Oklahoma was the best location for our facility," said CEO Asco Group Christian Boas. "The state is centrally located in North America and has an existing aerospace industry which is thriving. Oklahoma has a highly skilled workforce which specializes in our industry and the state has offered us assistance in trainng our new workforce."
With the support of both a fully equipped American manufacturing unit and a design center in the United States, Asco will strengthen its position as a preferred supplier to its customers.
The Stillwater facility capital investment is expected to be $60 million and 250 employees by 2014. Phase Two is expected to bring an additional $30 million to $40 million in capital investment and an additional 350 jobs in 2015.
"I am thrilled to welcome Asco to the Oklahoma community," said Governor Mary Fallin. "Today's announcement is one more indication that our commitment to pro-business policies is helping to attract jobs and businesses to the state. Oklahoma is proud to host Asco and we look forward to a long and successful partnership with the company and its employees."