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Indiana Governor Mitch Daniels joined executives from ThyssenKrupp Waupaca, Inc. to announce the company will expand its Tell City foundry operations, creating up to 160 new jobs by the end of 2012.
This is the second company to expand business operations in Perry County in the past few months. In March, manufacturing and logistics service provider, WGS Global Services said it would locate a new production facility in Tell City, creating up to 70 new jobs over the next three years
ThyssenKrupp Waupaca, Inc. is the largest independent vertical molding foundry in the world. The company produces gray, ductile and compacted graphite iron castings and serves the global automotive, off-highway, commercial vehicle, material handling and industrial markets. ThyssenKrupp Waupaca will invest $36.5 million in equipment upgrades to expand capacity at its 480,000 square-foot Tell City plant.
“Indiana is leading the nation in job growth, at 3 ½ times the national average. The problem is the national average is far too weak. This vote of confidence from a world-class company is further evidence that our competitive advantage over other states is growing,” said Daniels.
In addition to the Tell City location, which first opened in 1997, ThyssenKrupp Waupaca, Inc. is headquartered and has three plants in Waupaca, Wisc. as well as plants in Marinette, Wisc. and Etowah, Tenn. The company is part of ThyssenKrupp’s Components Technology business area. The ThyssenKrupp Group, based in Essen, Germany, is a global materials and technology company which consists of eight business areas. In fiscal year 2008/2009 the Group had annual sales of $54.8 billion and employed more than 187,000 worldwide.
“We are extremely grateful to Governor Daniels and the Indiana Economic Development Corporation for their tremendous support of ThyssenKrupp Waupaca, Inc.,” said Gary Gigante, president and chief executive officer of ThyssenKrupp Waupaca, Inc. “Tell City, Perry County and the state of Indiana have been outstanding partners throughout our history. The support provided by the Governor and his entire team will ensure that we continue to grow our operations and remain an integral part of the Indiana economy for many years to come.”
Hiring at ThyssenKrupp Waupaca’s Tell City plant is already underway for equipment operators, maintenance technicians and production workers.
“This is a great opportunity for both ThyssenKrupp Waupaca and the residents of Perry County. We have a wonderful corporate partner in ThyssenKrupp Waupaca and the opportunities that this expansion will provide are tremendous for all parties. I look forward to seeing more progress for the company and our community as this expansion continues,” said Chris Kinnett, president and chief executive officer of the Perry County Development Corporation.
The Indiana Economic Development Corporation offered ThyssenKrupp Waupaca, Inc. up to $1.55 million in performance-based tax credits based on the company’s job creation plans. Perry County will consider additional property tax abatement at the request of the Perry County Development Corporation.