Intelligrated Inc., which makes material conveying and palletizing equipment for warehousing and distribution, and manufacturing, is expanding its manufacturing operation in Danville, Ky.
Mason, Ohio-based Intelligrated will invest $1.6 million to increase production at the Kentucky plant, and hire about 50 people.
Kentucky Gov. Steve Beshar announced the investment. The Kentucky Economic Development Finance Authority has given preliminary approval to Intelligrated for tax incentives up to $1 million, through the Kentucky Business Investment program. The incentives allows a company to keep part of its investment through corporate income tax credits and wage assessments, if it meets targets for job creation and investment.
Chris Cole, CEO of Intelligrated, said the company acquired the Danville plant in 2009 when it bought the North American operations of FKI Logistex Group Ltd. FKI had considered closing the Danville plant, and Cole said Intelligrated kept it but ended up downsizing the operation.
But Intelligated is growing quickly, and officials decided to expand Danville, Cole said.
Cole and Jim McCarthy co-founded Intelligrated in 2001. They sold the company in 2012 to London-based private equity firm Permira, but have maintained a significant ownership stake. When the deal was announced, officials said Permira's investment would help the company expand in North American and emerging markets.