Newspaper article THE JOURNAL RECORD

Okc Firm to Make Electronic Auto Parts

Newspaper article THE JOURNAL RECORD

Okc Firm to Make Electronic Auto Parts

Article excerpt

Production of electronic parts for the automobile industry is expected to start Nov. 1 at 3920 NW 39th Street Expressway, Fred Jones Industries announced Monday.

The company purchased a 90,000-square-foot building from Curtis Equipment Co. Inc. and will start a $3 million renovation program in October.

However, the building purchase and plant start-up is predicated on a $3 million bond issue by the Oklahoma County Industrial Authority, according to Fred Jones Hall, president of Fred Jones Industries.

"All our contracts are based upon the assumption of issuance of those bonds," he said.

A public hearing on the bond issue has been called for 11:30 a.m., Sept. 6 in the Oklahoma City Chamber of Commerce office during a special meeting of the authority. At that time, the authority is expected to recommend that the Oklahoma County commissioners approve the issue during its regular meeting Sept. 10.

Rehabilitation of the building, which houses Curtis Restaurant Supply, is expected to be done in phases so that first electronic parts production can begin in early November, Hall said.

"We already have contracts to supply some parts to original equipment (automobile) manufacturers," he said. "We hope to manufacture a long list of items. As we add contracts with OEMs we hope this will lead to more and more products."

Among the first products planned are anti-lock brake systems, cellular communications, air bag components and electronically controlled power train components.

"We're excited about this new industry coming to Oklahoma City and to Fred Jones," Hall said. "Although vehicle production is expected to remain relatively flat during the next few years, the automotive electronics market is rapidly expanding."

Electronic content of the average car is expected to increase by 22 percent to $1,178 by 1992 and will reach more than $2,000 per car by 2000, Jones said. …

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