Penda Form expanding in Indiana

By Catherine Kavanaugh
Staff Reporter

Published: February 19, 2014 2:40 pm ET
Updated: February 19, 2014 2:42 pm ET

Related to this story

Topics Automotive, Thermoforming

Penda Form Co., which merged its way last year into the Top 10 in sales among thermoformers in North America, is growing again — but this time more organically.

The New Concord, Ohio-based company plans to build an addition, buy new equipment and double the workforce at an Indiana plant that makes truck bed liners.

Up to $4 million will be invested into the expansion at the factory in Bluffton, which now employs about 50 workers for integrated extrusion, single- and twin-sheet thermoforming, robotics trimming and assembly.

In addition to manufacturing, the 86,000-square foot facility has warehouse space and offices, a company website says.

With sales of about $185 million, Penda Form ranks 10th among North American thermoformers, according to the latest Plastics News rankings. The company shares the spot with Georgia Pacific LLC, which has estimated sales of $185 million.

The Indiana Economic Development Corp. and Bluffton city officials worked together to come with an incentive package for Penda Form that would help retain and create jobs. The company will receive $160,000 in conditional tax credits, up to $35,000 in training grants, and a city tax abatement that will save the company up to $250,000 over 10 years, The Journal Gazette newspaper reports. The city also will make about $150,000 of utility and street improvements by the facility at 130 Harvest Road.

Two other Penda Form plants have or will be shuttered. A 60-year-old plant in Pekin, Ind., was schedule to stop production at the beginning of the year, putting 37 employees out of work and leaving the town without its biggest utility customer. And, a 70-year-old plant in Byesville, Ohio, will stop operating on or near March 31. Forty-two workers got pink slipped, including 18 extruder operators.

Penda Form was created last July when Penda Corp., a Tier 1 auto supplier, merged with Fabri-Form Co., which serves the automotive, grocery and heavy truck end markets with material handling, packaging and engineered components.


Comments

Penda Form expanding in Indiana

By Catherine Kavanaugh
Staff Reporter

Published: February 19, 2014 2:40 pm ET
Updated: February 19, 2014 2:42 pm ET

Post Your Comments


Back to story


More stories

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

Image

Chinese auto suppliers growing in US

July 24, 2014 4:17 pm ET

Two China-based automotive suppliers are expanding in the U.S., according to information released by the Michigan Economic Development Corp.    More

OSHA probes alleged asthma link to Lear's Selma, Ala., plant

July 23, 2014 11:58 am ET

U.S. foam manufacturer Renosol Seating LLC is being investigated following allegations its workers are at risk of asthma from TDI exposure at its...    More

Image

Illinois injection molder expands

July 21, 2014 1:23 pm ET

Automotive supplier All-Rite Industries Inc. has added two new injection molding machines to its operations.    More

Image

More head-up displays going into cars, with improved information, graphics

July 21, 2014 10:48 am ET

Head-up displays with "augmented reality," the technology that employs much of the windshield as a display area for data and images, is poised to sign...    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