CHICAGO Pennex Aluminum Co. plans to invest $33 million at its Leetonia, Ohio, extrusion plant to add an extrusion press line, a specialized fabrication production center and 170,000 square feet of space.
The Wellsville, Pa.-based aluminum products maker said the new capacity is scheduled to come online in late 2014.
"This expansion involves advanced technology that will provide unique capabilities to serve our customers," Pennex president Dave Riebe said in a statement Jan. 8. He said that Ohio had approved a 45-percent, six-year tax credit for the project and Leetonia had backed a 100-percent, 15-year tax abatement.
Ohio officials said in December that Pennex was considering an expansion in Leetonia and that the company had been approved for tax credits (amm.com, Dec. 13).
The Leetonia facility is capable of meeting strict automotive and engineered product requirements, Pennex said, and the planned expansion will allow the company to continue to meet specialized extruded aluminum product requirements.
Pennex, a subsidiary of St. Louis-based Metal Exchange Corp., bought GEI of Columbiana Inc.s Leetonia operation in 2010 in a move it said would expand its customer reach and product range (amm.com, Sept. 9, 2010).