updated: 2/11/2013 12:53:26 PM
An automotive supplier is planning a $15.5 million expansion in Greensburg that could add workers. Valeo, which also has operations in Seymour, says the investment could create more than 200 Decatur County jobs by 2014. The company currently employs more than 650 at the plant.
February 11, 2013
GREENSBURG, Ind. - Valeo, a leading global automotive supplier, has announced plans to expand operations at its Greensburg, Indiana location with a $15.5 million investment in new machinery that is expected to create or retain approximately 209 jobs by 2014.
At the January 2013 Greensburg City Council regular meeting, Valeo provided figures regarding the company's $15.5 million dollar investment and 209 jobs. The Greensburg City Council then granted 4 new machinery tax abatements to Valeo, 3 of them for 5 years and 1 for 6 years. During the meeting, the company expressed their gratitude for the Greensburg city leaders’ support, as well as from the local and state economic development corporations during this expansion process.
Valeo's Greensburg operation has been part of the local community since 1989 and has grown to more than 400,000 square feet and employs approximately 676 people. It manufactures engine cooling loop exchangers and modules; charge air, exhaust gas, and oil coolers; and front end modules. The location is the company's North American regional center of expertise for engine cooling product manufacturing. It also is home to part of its Shared Services network, which includes accounting and purchasing functions.
Greensburg City Mayor Gary Herbert said that "our community leaders, economic development corporation, and state of Indiana have worked together with Valeo in a manner that assists retention, expansion, and job creation of local companies whenever possible. We realize that what's good for local businesses, like Valeo, is good for our community."
Valeo is an independent industrial Group fully focused on the design, production, and sale of components, integrated systems, and modules for the automotive industry, mainly for CO2 emissions reduction. Valeo ranks among the world's top automotive suppliers. The Group has 128 plants, 21 research centers, 40 development centers, 12 distribution platforms, and employs 73,800 people in 29 countries worldwide.
In North America, Valeo's regional headquarters are located in Troy, Mich., and the company has 16 production sites and six research and development centers employing approximately 8,906 people across the United States and Mexico. More information about the Valeo Group and its activities can be found on the Internet at www.valeo.com
Source: Greensburg Decatur County Economic Development Corp.