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

Gurit wins carbon fiber auto contract using new processing technology

January 23, 2015 9:22 am ET

Switzerland-based composite materials group Gurit Holding AG has been selected as the supplier for carbon fiber based automotive body panels at a...    More

Image

ACC's 'Roadmap' gaining traction

January 22, 2015 1:56 pm ET

Nearly a year into the launch of the latest effort to promote greater use of plastics in automotive applications, a trade group behind the push says...    More

Image

Auto supplier Cooper-Standard to trim operations in Europe

January 22, 2015 11:08 am ET

Novi, Mich.-based Cooper-Sandard Holdings Inc. said Jan. 21 it plans to consolidate its operations in Europe, including reducing manufacturing in...    More

Image

Hyundai Mobis investing $24 million to expand in Slovakia

January 22, 2015 9:28 am ET

South Korean auto parts maker Hyundai Mobis has unveiled plans to invest about 21 million euros ($24.1 million) to modernize and expand the output...    More

Image

Buick concept makes waves with plastic

January 21, 2015 2:25 pm ET

Buick's newly-debuted Avenir concept car includes a large polymer dash panel that's making waves — literally. The panel, glossy and smooth to th...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

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 Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

More Events