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

Large part molder EnviroTech in 'growth mode,' adds space, equipment

November 26, 2014 9:54 am ET

Salt Lake City-based EnviroTech Molded Products Inc. is adding new equipment and expanding its factory as it gains business in some of its...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013,...    More

Image

Uni Cap to build cap molding plant in Jordan

November 25, 2014 12:57 pm ET

The Persian Gulf's largest molder of caps and closures is investing $10 million in a new factory near Amman, Jordan, as part of an effort to boost...    More

Image

Canada's Papp Plastics is eyeing big opportunities with JV in Mexico

November 24, 2014 4:11 pm ET

Canadian injection molder and turnkey solution provider Papp Plastics & Distributing Ltd. will open an $11 million to $12 million joint venture facili...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events