updated: 11/8/2011 7:59:01 AM
Michigan-based Federal-Mogul Corp. says it is expanding in Logansport and creating approximately 100 jobs. The fuel system-manufacturer says it will invest more than $2.5 million to purchase new equipment for its Cass County plant.
November 7, 2011
Logansport, Ind. - Federal-Mogul Corporation (NASDAQ: FDML), a supplier of powertrain and safety technology, announced plans today to expand its operations here, creating approximately 100 new jobs by 2012.
The company, which manufactures fuel systems for the automotive, commercial, aerospace and agricultural industries, will invest $2.7 million to purchase new machinery and equipment for its 170,000 square-foot manufacturing plant and adjacent 15,000 square-foot technical center. Installation of the machinery is expected to begin this month.
"When a corporation with an extensive global background like Federal-Mogul continues to invest in Indiana, it shows the confidence companies have in our thriving business climate," said Governor Mitch Daniels. "Hoosiers across Indiana are reaping the benefits of a sound economic policy that promotes healthy growth and provides more jobs."
Headquartered in Southfield, Mich., Federal-Mogul employs 300 Hoosiers in Indiana. The company plans to begin hiring additional assembly and manufacturing associates in early 2012.
"This is great news for Federal-Mogul employees and for the Logansport community," said Brad Angle, plant manager at Federal-Mogul Logansport. "We are pleased to have this supportive decision and welcome the opportunity to invest in new technologies to enhance the plant's product and customer portfolio. We will add new fuel pump production lines in support of Federal-Mogul's leading position as a respected, high quality supplier of automotive fuel pumps to North American customers."
In 1899, Federal-Mogul was founded by Howard Muzzy and Edward Lyon as the Muzzy-Lyon Company and sold mill supplies and rubber goods. Today, with 45,000 employees operating in 35 countries, the company supplies $6.2 billion of products annually.
The Indiana Economic Development Corporation offered Federal-Mogul Corporation up to $450,000 in performance-based tax credits and up to $76,400 in training grants based on the company's job creation plans. The city of Logansport approved additional property tax abatement.
"Federal-Mogul has been a long-term fixture in our community and I am excited that they will be expanding their workforce here in Cass County," said Nolan "Skip" Kuker, president of the Logansport-Cass County Economic Development Foundation. "They have been wonderful to work with on this project and we would look forward to working with them again on any possible further growth. These partnerships help not only help Federal-Mogul but also Logansport and the state of Indiana."
Federal-Mogul's announcement is the latest in a succession of jobs announcements in Indiana's automotive industry. Just last week, AFCO Racing Products, a division of Speedway Motors, announced plans to grow its operations in Boonville, creating up to 61 new jobs by 2014. Also, Aisin Drivetrain recently announced that it will add a new manufacturing line for six-speed automatic transmissions for the commercial truck market, creating approximately 40 new jobs by 2014 in Crothersville.
Federal-Mogul Corporation is a leading global supplier of powertrain and safety solutions to the world's foremost original equipment manufacturers of automotive, commercial, aerospace, marine, rail and off-road vehicles; industrial, agricultural and power generation equipment; as well as the worldwide aftermarket. Federal-Mogul's leading technology and innovation, lean manufacturing expertise, and global distribution network deliver world-class products, brands and services at a competitive cost. The company's sustainable global profitable growth strategy creates value for its employees, customers and shareholders. Federal-Mogul was founded in Detroit in 1899. The company is headquartered in Southfield, Michigan, and employs approximately 45,000 people in 35 countries.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
Source: Indiana Economic Development Corporation