MS: SMW Mfg to Invest $15M, at Former Caterpillar Site, Hire 50
1 Nov, 2017
SMW Manufacturing is taking over operations at the former Caterpillar facility in Lafayette County. The company plans to invest in excess of $15 million and hire up to 50 employees, comprised of predominantly former Caterpillar employees, by the end of 2018.
“I am pleased to welcome SMW to Mississippi and appreciate the company for utilizing the skills of the facility’s previous employees to manufacture the quality products for which SMW is known,” Governor Phil Bryant said.
With experience in cold forming and machining space, SMW manufactures components for the heavy truck, automotive, mining, construction and industrial markets.
“SMW Manufacturing would like to extend its appreciation to all entities associated with making this vision a reality, first and foremost our customer Caterpillar, along with the state of Mississippi, the county of Lafayette, the city of Oxford, The Oxford-Lafayette Chamber of Commerce and Economic Development Foundation, the Tennessee Valley Authority and NEMEPA. We’re most impressed with the workforce we had the opportunity to select, and this team is among the finest I’ve had the privilege to work alongside,” said SMW General Manager Rich DesCoteaux. “SMW has a proven track record of growth and job creation. We’ve identified and are aggressively pursuing additional core customers that will fit nicely into our now fifth manufacturing facility, and we expect to begin bringing new business in very quickly”.
The Mississippi Development Authority is providing assistance through the Jobs Tax Credit program. Lafayette County is considering additional local incentives in order to best meet the operational needs of SMW.
“Caterpillar’s talented workforce coupled with bright business prospects were key factors in SMW’s decision to acquire the Oxford facility,” said MDA Executive Director Glenn McCullough, Jr. “We salute our partners at the Oxford-Lafayette County Economic Development Foundation and the Lafayette County Board of Supervisors for helping make this project a reality.”
SMW currently employs 33 former Caterpillar employees. The company plans fill the remainder of the positions by the end of 2018.