A Toyo Tire & Rubber Co. subsidiary will locate in Simpson County and create 42 jobs, Gov. Matt Bevin said Thursday.

TMM USA Inc., through a $5.6 million investment, will supply its parent company with stamped and welded components.

TMM will lease 45,000 square feet in the newly expanded Toyo Automotive Parts USA Inc. factory in Franklin, an arrangement expected to save time and expense, Bevin said in a news release.

In Franklin, Toyo Automotive Parts makes anti-vibration components including engine mounts, bushings and strut mounts. Company executives expect to save on metal and raw materials, as well as on shipping and storage by locating TMM in-house, the governor said. Toyo purchases more than 50 percent of those materials from outside suppliers.

“Kentucky’s signature auto manufacturing industry is a major driver of our state economy,”  Bevin said in the release. “The addition of TMM USA improves operations at Toyo Automotive Parts and further solidifies Kentucky’s standing as a prime destination for the nation’s automotive industry. It is a testament to the quality of Simpson County’s workforce and further indication that Kentucky is open for business.”

Ron Wyans, president of Toyo Automotive Parts said the addition “will surely help improve our operations and create more opportunities in the future.”

The Franklin location marks TMM’s first U.S. facility.

“TMM will be an important supplier to one of our major manufacturers, Toyo Automotive Parts,”  Franklin Mayor Ronnie Clark said in the release. 

Simpson County Judge-Executive Jim Henderson noted TMM USA Inc. is the fourth Japanese manufacturing company to come to the county.