Automotive supplier Adkev Inc. will establish operations in Kentucky with the purchase of a former Caterpillar Inc. plant in Danville.
Adkev will produce automotive HVAC, electronic and trim components at the 190,000-square-foot facility, according to a news release from Kentucky Gov. Matt Bevin. The $15.7 million investment will create 70 full-time jobs.
The company expects to buy the building by the end of this year and launch operations in mid-2019 following upgrades to the facility, according to the release.
Adkev operates a manufacturing facility in Monticello, Ind., in addition to its headquarters in Goodland, Ind. The Danville facility will be its first outside its home state.
“Expanding into a third facility in the Southeast region is in response to our core mission to provide stability and opportunity to our employees, communities and customers,” said Adkev President Gary Rheude, in a statement.
Adkev injection molds products for automotive, appliance and industrial end markets with approximately $70 million in annual sales, according to Plastics News estimates. Founded in 1987, the molder ranked 99th among the top injection molders in North America.