Rane Group, an India based manufacturer of automotive components, headquartered in Chennai, India announced Monday the acquisition of Precision Die Casting Inc. (PDC), located on Hopkinsville Road in Russellville. The plant will be renamed Rane Precision Die Casting, Inc.
The PDC plant is the former home of Rockwell International, the first large industry to locate in Russellville in 1958.
Rane is an automotive components manufacturer, operating 25 plants in India and now entering the North America market. Rane currently does business with a number of the same U.S. customers as does PDC. Rane plans to retain the approximate 175 employees now at PDC, and will expand the business over time as market conditions allow.
Rane PDC emphasizes continued growth and market share. Rane has long sought a presence in the U.S. and see this acquisition as an excellent entry point into this market.
Managing Director Harish Lakshman said, “Rane is excited to be entering the U.S. market and pleased with the opportunity this acquisition presents. We look forward to a long and prosperous relationship with Russellville and Logan County. We are impressed with the quality of the workforce, it being a major factor in our decision”.
Mike Torti, President & CEO, added, “Rane brings a wealth of expertise and marketing contacts to the table. We are thrilled to have them on board. Our highly trained employees made this acquisition possible and offer a substantial advantage to Rane going forward”.
Judge-Executive Logan Chick offered, “I congratulate Rane on their arrival in Logan County. By every indication they are a high quality, successful company and will add to the employment in Logan County.”
Mayor Mark Stratton commented, “Russellville welcomes Rane to our city. We are delighted that they have the confidence in our people and community to make this major investment in our future. We want them to grow and prosper and offer our support and assistance.”
LEAD, the Kentucky Cabinet for Economic Development, TVA, and the Russellville Electric Plant Board all worked with Rane and PDC to successfully close this project.
More information about the Rane Group of companies can be found on their website: www:rane.co.in