New equipment investment and FastTrack grant highlights changes since March acquisition
COOKEVILLE – Transtar Industries, a leading remanufacturer of torque converters and transmission parts distributor that acquired Cookeville-based DACCO earlier this year, has been steadily increasing its local workforce since March. The partnership has brought together the DACCO and Recon brands of torque converters under one company.
Among the highlights of the new partnership, DACCO’s Cookeville plant has hired approximately 100 new positions in the months following, with a total headcount (manufacturing and office) of more than 300 employees. One out of four employees has 20 or more years of service with DACCO.
“Together, our service, product expertise and the industry’s broadest selection of high-quality transmission parts and repair solutions have been a win for our customers, as well our employees in Cookeville,” Don Looper, Transtar regional vice president and former VP sales and marketing for DACCO, said in a release.
DACCO’s Cookeville plant has been the receiver site for consolidations of Transtar facilities in California and Pennsylvania. The majority of Transtar’s torque converter and transmission parts remanufacturing volume is now in Cookeville.
DACCO’s Cookeville facility is enhancing its position as a torque converter remanufacturing center due to its workforce, as well as its strategic geographic location, quickly accessible to major transportation and distribution routes.
And DACCO’s Cookeville facility is seeing a significant influx of equipment, both from Transtar sites that were closed as well as new investment. Transtar is investing in roofing, flooring, technology and physical space enhancements at the DACCO campus. DACCO’s distribution capabilities have also improved, with upgrades made to its warehouse and docks including new racking, conveyor and a new layout.
In business since 1968, DACCO has more than 400 employees in total; these join Transtar’s 1,700 workers. With the addition of DACCO, Transtar has nearly 100 locations in North America.
”DACCO has been a staple in our community for many years providing quality employment based around high-quality products,” said Chuck Sparks, Cookeville-Putnam County Chamber of Commerce board chairman. “We are pleased that Transtar has shown the same level of dedication and community engagement. We are already seeing the benefits of the Transtar partnership, and we are excited about the future.”
Added Bob Bell, chair of the Putnam County Industrial Development Board, “Industrial expansion for a company like Transtar showcases the climate of economic growth here in the Highlands region. The local workforce helped confirm that Cookeville had the potential to grow their business successfully by continuing to create first-rate components.”
Additionally, the state of Tennessee awarded Transtar a FastTrack job training grant. According to records, that amount totaled $411,000.
“TVA and Cookeville Electric Department congratulate Transtar Industries on its expansion in Cookeville,” John Bradley, TVA senior VP of economic development, said. “We are always excited to see companies grow and add jobs and are proud to partner with the State and local community officials to assist the continued success of existing manufacturers.”
Transtar Holding Company is the owner of automotive aftermarket brands including Transtar, Transtar Autobody Technologies, King-O-Matic, Axiom and Nickels Performance. Transtar acquired DACCO’s parent company, ETX, in part to “bring together the DACCO and Transtar brands in a historic partnership that will create unsurpassed customer value and an even stronger future for both our companies,” said Tim Bowes, president and chief executive officer of Transtar Industries. “DACCO’s reputation is built on an impressive legacy of service, technical expertise and company-wide best practices. The DACCO – Transtar partnership has enhanced our reputation and capability as the complete aftermarket transmission solutions provider,” he said.