While EMBDC refuses to confirm or deny the information, Newscenter 11 has learned from reliable sources the company that will open manufacturing operations at Delco-Remy is an automobile parts manufacturer.
It makes auto body structures and suspension components for every major automaker. The company has partnered to develop these units.
An official announcement about the new Meridian facility by the Meridian City Council and the Lauderdale County Board of Supervisors is expected Thursday.
The Meridian project is pegged at $140 million. It will provide approximately 300 jobs. The incoming tenant has more than 12,000 employees worldwide. The company operates in Europe, Asia, Brazil and Canada. It projected $3 billion in revenues last year.
Work has already started on restructuring the old Delco building. An expansion will be added to the vacant 300,000 square foot facility that exists today.
County supervisors last week took bids for site preparation of the addition. They awarded a $376,000 contract to H.E. Mosley Construction Company of Meridian.
At Tuesday's city council meeting, $829,000 was transferred to the Lauderdale County Economic Agreement for renovation and expansion of the building.
It is believed the target date for the start of the Meridian operation could be as early as next summer.