Kencoa Group, LLC, a strategic aerospace holdings company, announced on September 15, 2017 that it has completed the acquisition of Heart of Georgia Metal Crafters, LLC (HGMC), an Eastman based tier-1 supplier of precision machined and sheet metal fabricated components for the aerospace industry. The acquisition was effective January 1, 2017 and moving forward, the company will be officially conducting business as Kencoa Aerospace, LLC.
HGMC began serving customers in 1998 with a vision of manufacturing advanced fabricated components for the aerospace industry and serving as an economic development driver for the Middle Georgia community of Eastman-Dodge County. Over that time, the company forged many long-term partnerships with customers such as Boeing Defense and Space, Lockheed Martin, Gulfstream Aerospace and many others requiring creative solutions, on-time service and quality excellence.
Commenting on the acquisition, Kencoa Aerospace President and native of Georgia, Jason Premo said, “As part of Kencoa Group, we are now able to further advance the vision to achieve even greater opportunities for our employees, community and most importantly, our customers. We intend to enhance and expand these relationships by further investing in our people, capabilities and capacity, providing even greater added value and extraordinary service.”
Kencoa Aerospace also collaborated with Georgia Economic Development to explore available incentive programs and has committed to adding 100 new jobs over a four-year period, in addition to $2 million in capital investment. At the time of this release, the company is ahead of schedule, having already hired 16 new employees and installed over $1.6 million in new advanced manufacturing equipment.
“Kencoa Aerospace has unlocked an incredible opportunity to capitalize on Georgia’s strong manufacturing and aerospace industries,” said GDEcd Commissioner Pat Wilson. “Aerospace products are the number one export from Georgia, and our leadership position in this sector will help maintain a competitive edge in the global market. I look forward to the success Kencoa will have in Dodge County.”
Kencoa Group, LLC, with the cooperation of the Dodge County Eastman Development Authority (DCEDA), made the official announcement that it acquired the Heart of Georgia Metal Crafters, LLC facility on September 15, 2017. Pictured above are (l-r) DCEDA Chief Financial Officer Spence Barron, DCEDA Executive Director Charles Williams, Kencoa USA President Jason P. Premo, Kencoa Group, LLC Founder and Chief Executive Officer Kenny Lee, DCEDA Chairman Butch Kirkley and Kencoa Eastman General Manager Stephen Pritchett. (Photo by Leslie Liles)
100 new jobs coming to Dodge County
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#1
Jason Premo
on
09/20/17 at 01:16 PM
[Reply]
Kencoa is proud to play a role in the ongoing growth of our community and creation of high wage, high tech aerospace jobs. We appreciate everyone's support and encouragement!
#2
Milton I Johnson
on
10/11/17 at 09:13 AM
[Reply]
Phenomenal, this is a great additional boost of economic impact for Eastman/Dodge. Economic Impact Analysis tells us that a new/expanding enterprise will make direct expenditures like payroll and some local service contracts and purchases of supplies and equipment that will help catalyze additional cash flow streams through the local economy. In addition to the more tangible direct effects, there are numerous indirect effects as these cash flows assist other enterprises in moving a step or two forward (the rising tide lifts all ships effect). Finally, there is also the potential for induced effects as the cash flow streams help stimulate increased household spending. We could also perform a Fiscal Impact Analysis to determine how changes in the economic activity can impact local government revenues and expenditures. I think you catch my hint that we can fall deep down the rabbit hole analyzing the potential economic multipliers to determine how the sum of the direct, indirect, and induced effects give a local economic dollar value for each new job created and each dollar spent on capital improvement. However, putting the science and art of economic development aside you can understand how having enterprises like Kencoa join the community are solid wins for Eastman/Dodge. Here’s hoping that Kencoa has some industry friends that Charles Williams and Spence Barron can meet.
