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TK Waupaca Expansion Hailed for Job Growth

Oct. 13, 2010
Indiana foundry is due for a series of capital investments
ThyssenKrupp Waupaca Inc. is planning an expansion of its Tell City, IN, foundry, in a $36.5-million project announced this week. The Indiana Economic Development Cop. has offered the ferrous foundry group up to $1.55 million in performance-based tax credits based on its job creation plans, and Perry County is expected to contribute additional property tax abatement for the projects. The announcement was made by Indiana Governor Mitch Daniels and the IEDC, which emphasized the expansion would lead to as many as 160 new jobs at the foundry by 2012. The agency’s release indicated hiring is already underway for equipment operators, maintenance technicians and production workers "Indiana is leading the nation in job growth, at three-and-a-half times the national average. The problem is the national average is far too weak. This vote of confidence from a world-class company is further evidence that our competitive advantage over other states is growing," the governor declared. A ThyssenKrupp source confirmed the value of the capital investment and indicated the plans include completion of a melt center cupola dehumidification project, automation improvements, landfill additions, and replacement of an existing molding line. “It is important to note that these projects are planned projects and will be undergoing formal approval over the next four years,” the source added. ThyssenKrupp Waupaca produces gray and ductile iron and CGI castings at six foundries in Wisconsin and Tennessee, as well as the Indiana plant, for automakers and manufacturers of off-highway equipment, commercial vehicle, material handling equipment, and general industrial products. "We are extremely grateful to Governor Daniels and the Indiana Economic Development Corp. for their tremendous support of ThyssenKrupp Waupaca Inc.," stated TK-Waupaca president and CEO Gary Gigante. "Tell City, Perry County, and the state of Indiana have been outstanding partners throughout our history. The support provided by the Governor and his entire team will ensure that we continue to grow our operations and remain an integral part of the Indiana economy for many years to come."