(SALEM) - Lt. Gov. Becky Skillman joined executives from GKN Sinter Metals, LLC to announce the company's expansion of its operations in Salem. In 2010, the company committed to create up to 50 jobs by 2013 and has exceeded that goal, adding more than 75 net new jobs as of this month.
GKN, a powder metal components manufacturer, committed in December of 2010 to invest $3.45 million to equip its 220,000-square-foot facility in Washington County. The company has since invested $7.1 million and plans to invest an additional $4 million in the next year. As part of the project, the company purchased compaction presses, sintering furnaces and automation for the furnaces and presses
"With its optimal location, expansive infrastructure and high-quality workforce, Indiana continues to hit the mark with automotive companies around the world," said Skillman. "GKN is evidence of the advantages of doing business in southern Indiana, and we are proud to celebrate the accomplishments of this high-growth company."
The company plans to continue hiring additional manufacturing and production employees in Salem to accommodate its growing production capacity. Interested applicants can apply at www.indianacareerconnect.com, the local WorkOne office or Spartan Staffing.
"Our plant has had a significant turnaround in the last four years, with our location in Salem as a tremendous asset in that process," said Paul Cook, director of operations, segment II at GKN Sinter Metals. "The engagement, passion and drive of our employees throughout the organization are a real competitive advantage for us. Throughout this process the mayor, council and IEDC (Indiana Economic Development Council) have been essential partners in strengthening our foundation here. The result of our investment is a successful, sustainable business that is positioned well to continue to grow and prosper in Salem."
GKN Sinter Metals is a wholly owned subsidiary of U.K.-based GKN plc, with GKN companies and joint ventures employing about 44,000 people in more than 35 countries. Established in 1951 as Wel-Met Company in Salem, GKN uses a process known as powder metallurgy to make precision powder metal components used in the automotive industry. The company distributes directly to a vast portfolio of automotive companies, including Ford, General Motors, Hilite (a distributor to Chrysler and GM) and Means (a distributor to Mazda and GM).
The Indiana Economic Development Corporation offered GKN Sinter Metals, LLC up to $250,000 in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based. The city of Salem has provided additional property tax abatement at the request of Washington County Economic Growth Partnership.
"As mayor it has always been my goal for city and state government to work as one in supporting our local business and industrial community," said Salem Mayor David Bower. "Our combined vision has been to create jobs and opportunities while providing support to our corporate partners."
This summer continues to reflect why Indiana is home to the second-largest motor vehicle industry in the country. GKN's announcement marks the latest in a series of automotive-related announcements in Indiana in the past month. Automotive parts suppliers Greenville Technology, Inc. and Indiana MARUJUN recently announced plans to invest in the xtate. Also, just last week, Seymour Tubing, Inc., a steel pipe supplier to carmakers, made plans to invest $20 million to expand its operations in Bartholomew County.
GKN Sinter Metals' global footprint spans more than 13 countries across five continents. The company is in close proximity to its customers with more than 30 global locations and a workforce of approximately 6,500 employees
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