Kyocera SGS Precision Tool Inc. (KSPT)

Kyocera SGS Precision Tool Inc. (KSPT), a wholly owned Kyocera Corp. (KYO) company and a leader in solid carbide cutting tool manufacturing, announced today that it will invest $9.5 million to establish a North American technology and strategic manufacturing hub, Kyocera SGS Tech Hub, LLC, in the City of Danville and Pittsylvania County. Danville and Pittsylvania County successfully competed against Ohio and South Carolina for the project. This project includes the construction of a new 30,000 square foot facility, in the Cyber Park, a technology park owned by the Danville-Pittsylvania County Regional Facility Authority (RIFA). This announcement includes a commitment to hire 35 new employees within three years of the start of operations, paying average annual salaries of $62,000. Danville and Pittsylvania County jointly recruited this company and attribute much of their success to the investments that have been made in creating an extraordinary workforce solution centered on precision machining. “Under the encouragement of Governor McAuliffe, Kyocera SGS Precision Tool visited the state of Virginia and the City of Danville, where we instantly connected with a location and a population of people that are in the early stages of a renaissance that perfectly aligns with our own internal evolution,” said Alan Pearce, CEO of Kyocera SGS Tech Hub. We are a company with a long history of tradition and values, where creative and progressive thinking has established industry changing and leading high performance solutions. The history of the Danville area and its people, coupled with the high level technical skill development and engineering advancement efforts driving Virginia into an industrial leading position in the future, is the essence of why the Kyocera SGS Tech Hub is being created in Danville, Virginia. The Tech Hub is our investment into a forward thinking, proactively leading, and quick response industrial solutions hub tailored to each customer’s unique needs, which is precisely how the state of Virginia and the city of Danville approached us during our search to finalize a location to shape the future of our organization.” Jesse Barksdale, Chairman of the Pittsylvania County Board of Supervisors and Chairman of the RIFA said “We are delighted that Kyocera SGS Precision Tool has chosen Danville Pittsylvania County for their investment, and this community will benefit immensely from the creation of these types of quality jobs. I am confident that the Company will find tremendous success in Southern Virginia, particularly because of the major investments this region has made in creating an extraordinary workforce solution centered around precision manufacturing.“ Danville Mayor John Gilstrap stated, “We are gratified to have this economic development announcement of an internationally recognized brand, such as Kyocera SGS Precision Tools, here in our community. This is exactly the type of announcement that will help attract future investment to the region. This announcement provides confidence that our region can continue to be competitive globally.”

Additional Information