By Paul Ploumis 12 Aug 2015 Last updated at 06:44:55 GMT
EUCLID (Scrap Monster): Pennex Aluminum Co. has announced massive expansion plans at its Ohio facility. The $38 million expansion is expected to triple the size of the company’s extrusion and fabrication facility at Leetonia, Ohio. The state-of-the-art expansion was carried out in partnership with Columbiana County. A part of the investment also enjoys a six-year tax credit from the state of Ohio and 15-year tax abatement from the village of Leetonia.
The company has added 175,000 square-feet to the earlier facility. After expansion, the facility currently has two aluminum press lines, which produces specialized and customized aluminum products. The expansion also doubles the capacity of aluminum fabrication lines, thereby helping to serve customers in a better and efficient manner.
The expansion works has added additional job shifts at the facility. It has created 65 new jobs. The company hopes to create more number of job opportunities in coming years.
The Leetonia facility supplies specialized parts for automobile manufacturers and transportation companies. It also manufactures various products that are used extensively by building and construction industry.
Pennex Aluminum is part of the Metal Exchange Corporation, one of the world's largest suppliers, processors and purchasers of non ferrous metals in the world. Based in St. Louis, Missouri, MEC currently operates globally in 19 countries. The company has operations in Greenville, Wellsville and York, Pennsylvania, and in Leetonia.