A discontinued Evansville manufacturer with a heritage that dates back more than 100 years is being revived. IRD Group Inc. plans to invest around $750,000 into renovations at the shuttered International Revolving Door Co. plant. The company says it will create nearly two dozen jobs, restart revolving door manufacturing and lease space to other companies in the facility that closed in the spring.
Mayor Lloyd Winnecke says "This is a great investment by the IRD Group in a company with a long history in Evansville that continues to enjoy strong demand for its beautifully crafted revolving doors. It’s also another positive sign that our city is on the right track economically." The city estimates the project will have a $4 million economic impact on the community for the next decade.
The company, which has previously been considered the oldest continuous manufacturing business in the city, is known globally for its craftsmanship, durability and innovation. IRD Group spokesman Joshua Kratochvil says "our entire management team is very excited about restoring this historic manufacturer of beautiful revolving doors, whose craftsmanship has been displayed for over a century in prominent buildings in virtually every major city in the United States, and around the world."
International Revolving Door Co. was a spin-off of defunct International Steel Co. International Steel grew its presence in the revolving door manufacturing business in the turn of the 19th century when it acquired two out-of-state companies, Van Kannel and Atchison, then consolidating manufacturing to the Vanderburgh County city.
International Revolving Door has been at its current location since 1992. IRD Group has been approved to receive $115,000 from the Indiana Economic Development Corp. as part of its Industrial Recovery Tax Credit program.