Michigan-based Metaldyne Performance Group Inc. (NYSE: MPG) has announced plans to invest nearly $31 million in its North Vernon operation. The automotive component supplier says the expansion is expected to result in 126 new jobs by 2019.
The company employs nearly 200 right now in North Vernon. It operates other Indiana facilities in Bluffton, Fremont, Columbus, New Castle and Remington and employs some 12,000 worldwide.
MPG’s plans call for a new facility next to its current Jennings County operation. The company says the additional space, equipment and workers will boost production of powder forged connecting rods. MPG customers are in the light, commercial and industrial vehicle markets.
"Our North Vernon manufacturing operations has been a strong performing plant for MPG and its customers for many years," said Chief Operating Officer Doug Grimm. "We are excited about this new expansion, and we appreciate the support from the state of Indiana." The Indiana Economic Development Corp. has approved up to $900,000 in conditional tax incentives and training grants, on top of support from the city.
In December 2014, MPG went public following the merger of three metal-forming technology companies. A predecessor, Medaldyne Corp., filed for Chapter 11 bankruptcy protection in 2009.
North Vernon Mayor Mike Ochs says "MPG, formerly operating as Metaldyne, has been a member of this community for many years and we are extremely pleased they chose the North Vernon facility for their expansion project. We very much appreciate their commitment and investment, which will impact not only Jennings County but south central Indiana."
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