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

Auto supplier receiving grant to help expansion

October 30, 2014 3:35 pm ET

Summit Polymers is receiving an $800,000 performance based grant to help with a $7.3 million expansion of three of its Michigan facilities.    More

Image

Magna opens new exterior facility, plans for lighting investment

October 30, 2014 1:36 pm ET

Canadian automotive supplier Magna International Inc. on Oct. 28 opened a new injection molding and robotic paint line facility in Delta Township,...    More

Image

Finalists named for 2014 SPE Automotive Innovation Awards

October 30, 2014 11:00 am ET

The Society of Plastics Engineers Automotive Division has selected finalists for its 2014 Automotive Innovation Awards competition. Category winners...    More

Image

Detroit Manufacturing Systems to hire 200 for F-150 production

October 29, 2014 10:40 am ET

Interior trim supplier Detroit Manufacturing Systems LLC plans to hire 200 assembly workers by January to support production growth of Ford Motor Co....    More

Image

Automakers globally using 3-D printing to speed production, prototyping

October 27, 2014 11:41 am ET

As the cost declines and capabilities improve, automakers and suppliers increasingly are relying on 3-D printing to shorten product development cycles...    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

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

More Events