City officials in Auburn, IN, are due to consider a tax-incentive program for Metal Technologies Inc.’s gray iron foundry in that city, which is described as a $35-million project that would begin in 2012 and come into commercial operation in 2013. Local reports cite the plan is as a $6-million expansion of the operation and a $29-million package of new production equipment.
A public hearing and vote of the company’s request for a phased tax structure is scheduled for mid January.
Metal Technolgies Inc. is a ferrous foundry holding company that operates plants in Ravenna and Three Rivers, MI, as well as the former Auburn Foundry site it acquired in 2005. MTI Auburn produces gray iron and ductile iron castings weighing from five to 50 lb., for automotive and medium/heavy truck components, as well as trailer manufacturing, and appliance and compressor markets. The plant has over 200 workers and the foundry has indicated the expansion could lead to more the 40 new jobs.