Auto supplier invests $11 million in Indiana molding plant

By Rhoda Miel
News Editor

Published: December 3, 2013 4:31 pm ET
Updated: December 3, 2013 4:47 pm ET

Related to this story

Topics Automotive, Injection Molding

Injection molder Adkev Inc. is investing $11 million in an expansion that will double its production capacity in Monticello, Ind.

The expansion, announced during a press event in Monticello with Indiana Gov. Mike Pence, will add 40,000 square feet of manufacturing space to its existing 183,000-square-foot plant, Adkev officials said in a Dec. 3 news release.

Adkev will add new injection molding machines and create up to 60 new jobs at the site. It currently employs 85 people in Monticello and another 230 at its headquarters operation in Goodland, Ind.

Work on the expansion began in October.

Adkev has a specialty in insert molding and is a second tier supplier to the auto industry, making heating and air conditioning systems and interior and exterior parts. It launched production in Monticello in 2007 and invested $1.1 million with six new presses in 2009 at the plant.

The Indiana Economic Development Corp. offered the company up to $300,000 in tax credits and up to $50,000 in training grants. Plant manager Jeremy Kyser said the company has regularly been asked to consider expanding to Tennessee, Alabama and Mexico, but opted to bring on new capacity at an existing facility.

 


Comments

Auto supplier invests $11 million in Indiana molding plant

By Rhoda Miel
News Editor

Published: December 3, 2013 4:31 pm ET
Updated: December 3, 2013 4:47 pm ET

Post Your Comments


Back to story


More stories

Image

Report: Suspected former Nazi with plastic connection collecting Social Security

October 20, 2014 3:52 pm ET

AKRON, OHIO — A one-time plastics executive in Akron is among dozens of suspected former Nazis who have been collecting U.S. Social Security...    More

Ford shrinks its supplier 'watch list'

October 20, 2014 1:35 pm ET

Ford purchasing chief Hau Thai-Tang says suppliers are starting to invest in additional production capacity because they think the recovery is real.    More

Molder expands in France with new clean room

October 20, 2014 1:30 pm ET

Global Closure Systems (GCS), a global injection molding producer, showed off its new ISO 7 clean room at its Astra Plastique factory in France...    More

Molder goes to auction block

October 17, 2014 12:17 pm ET

An Illinois custom injection molding operation will be auctioned off after its owner decided to close the business.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events