VCM officially in operation
VICKSBURG — On Sept. 29, Steel Summit Holdings Inc. celebrated the grand opening of its new division, Vicksmetal Company (VMC), at a ribbon-cutting ceremony in Vicksburg. Steel Summit Holdings is a wholly-owned subsidiary of Sumitomo Corporation, headquartered in Tokyo, Japan.
VMC currently occupies a 26,500-square-foot facility at the Port of Vicksburg. The company produces transformer cores for manufacturers of electrical transformers and voltage regulators. Its operations include cutting, forming, assembling, annealing and testing core loops that can range in weight from a few pounds to more than 1,000 pounds each.
The company currently employs 10 workers on one shift and has plans to add more equipment, at least 15 additional employees and up to two additional shifts over the next year. Steel Summit Holdings has invested approximately $4 million in this project to date.
“I have the great honor and privilege to open this new company here in the industrial community at the Port of Vicksburg,” said Mike Inoue, president of VMC. “Although we have supplied the transformer industry for 25 years with slit electrical steel through our Vicksmetal Armco Associates (VAA) facility located in the same industrial park, the new VMC now provides even greater opportunities to serve the transformer manufacturers here in the Southeast. As this new venture succeeds, we will look for further opportunities for expansion and for greater contributions to this community.”
The Mississippi Development Authority worked with the company to provide job training assistance.
“We are pleased to welcome Vicksmetal Company, a new division of Steel Summit Holdings, to Mississippi and are excited about the jobs this facility will create,” said Gray Swoope, executive director of the Mississippi Development Authority. “I applaud Steel Summit Holdings for expanding its operations in Mississippi and look forward to working with the company to help it continue to succeed and grow in the years to come.”
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- UMMC reaching out after death of high school football player
- Former Godwin CEO Danny Mitchell dies at 66
- Thousands of acres of Delta farmland to go on auction block
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Northrop Grumman lands $354M Air Force contract for Global Hawks
- Board files suit against VA over release of patients' names
- City trying to determine who has authority to spend gaming money
- Gov. Bryant sets special election date for Senate District 17
- Mississippi sounds coming to Americana Music Festival & Conference