METAL TECHNOLOGIES INVESTING $29 MILLION
A $35 million tax abatement for Metal Technologies was approved by the Auburn City Council in a 6-0 vote in January, 2012. The company pledges to create 42 new jobs along with dedicating $29 million to new equipment and $6 million on building expansions by 2014.
Jeff Turner, Senior Vice President, states that the pledged improvements will emphasize keeping the Auburn facility at the most advanced level available. Metal Technologies will be installing a new furnace to melt ductile iron, a stronger iron than gray iron. Currently the foundry melts ductile and gray iron in the same furnace and is unable to create products that call for various types of iron at the same time. The company plans to purchase two new DISA molding lines, the first sold in the USA in seven years – a reflection of how challenging the foundry business has been. The new sand molding systems produce higher quality molds and allow better reuse of sand and increases output from 400-450 molds per hour to more than 500 molds per hour, according to Mr. Turner.
Other investments include six new laser-controlled pouring systems, with an upgraded process to shake off sand molds and expanded automation capabilities. The improvements will necessitate an addition of 85,000 square feet to the existing building.
In a 6-0 vote, the Auburn City Council members shared positive feedback about Metal Technologies investment and future plans for their company and its impact on the community.
Ken McCrory, Director of the DeKalb County Economic Development Partnership said the property tax reduction would help the industry secure a place in Auburn for a long time. “This is an exciting time for Metal Technologies and Auburn. The jobs and equipment that will be purchased will increase efficiency and make Metal Technologies more competitive in a global market.”
SOURCE: The Star, related articles, 01.04.12 and 01.12.12