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.

 


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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

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