FAIST Light Metals, a division of Italy-based FAIST Industrial Group, announced it will locate a new facility in Ripley, Tennessee, U.S., investing $3.1 million and creating 30 jobs.
FAIST Light Metals specializes in diecasting, machining and surface plating of components and assemblies, working with the telecom, automotive, electronics and industrial markets.
Initially, the facility in Ripley will primarily manufacture automotive components and will expand into diecasting in the future.
FAIST has bought a 65,000-sq. ft. facility for future growth.
“FAIST is excited to add the new facility, employees and capability in Ripley and is looking forward to the opportunity of growing the business in partnership with our customers and business partners,” said Meik Andriani, CEO, FAIST Light Metals. “We also want to thank the local and state officials for their assistance with making this acquisition as seamless as possible in such a quick manner.”