RIGHTWAY FASTENERS, INC., a Columbus, Indiana manufacturer of high- torque tension bolts for the automotive industry and cold forgings, has completed a $3.5 million, freestanding surface treatment plant. When fully operational in the summer of 1999, the facility will allow the company to expand its current business of dacrotizing and electric zinc plating automotive parts. Rightway Fasteners, which now employs 115 people, is owned by MEIDOH CO., LTD. (48 percent), NAGOYA DACRO CO., LTD. (26 percent), TOYOTA TSUSHO CORP. (10 percent), SANNOHASHI CORP. (10 percent) and SUNNY DACRO CO., LTD. (6 percent). Reflecting the ownership ties, the company's main customers are the North American operations of TOYOTA MOTOR CORP. and NISSAN MOTOR CO., LTD. RFI had sales of $10 million in 1997 and is projecting revenues of $13.1 million for this year.
An exchange rate of ¥145=$1.00 was used in this report.