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

Magna expanding interiors site in Slovakia

July 29, 2014 1:47 pm ET

Magna International Inc. plans to nearly double the size of its manufacturing facility in Trnava, in western Slovakia, to accommodate new automotive...    More

Image

One51 adding injection molder Straight to its bin molding portfolio

July 29, 2014 10:12 am ET

Dublin-based One51 plc has had its purchase of British trash bin maker Straight plc cleared by the United Kingdom's Competition and Markets Authority.    More

Magna hiring at two Michigan locations

July 28, 2014 11:43 am ET

Magna Interior Trim Components is adding a total of 169 jobs to two of its Michigan manufacturing facilities.    More

Image

Columbine Plastics moving to new Colorado site

July 25, 2014 11:38 am ET

Custom injection molder Columbine Plastics Corp. plans to move from Boulder, Colo., to the Colorado Technical Center in Louisville, Colo.    More

Image

Metals and plastics company NN to buy Autocam in $300 million deal

July 25, 2014 10:07 am ET

A Tennessee metals and plastics company said it has agreed to acquire auto parts supplier Autocam Corp. in a deal valued at $300 million.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events