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Verbatim: Steel distributor plans Whitley County center

Statement issued Tuesday

COLUMBIA CITY, Ind. (Oct. 5, 2010) – Triad Metals International, a distributor of structural steel, announced today that it will locate its newest and first distribution facility in the Midwest here, creating up to 35 new jobs by 2013.

The company which processes and distributes steel, tubing and hot rolled coil, will invest more than $10 million to construct a new 170,000 square-foot distribution center at the newly established Rail Connect Business Park east of Columbia City.

"Triad's decision to locate its newest distribution center here is a victory for northeast Indiana," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Once again, Indiana's low cost of doing business and logistical infrastructure is proving to be a valuable tool in attracting new competitive investment."

Triad, which will begin construction on the new facility by the end of 2010, plans to begin hiring processing, distribution and supervisory associates in the first quarter of 2011.

"Factors such as proximity to customers, access to road and rail infrastructure, and workforce made Indiana an attractive location, but the ongoing dedication of the state and local officials I have worked with set Indiana apart as a place to do business," said Ronald J. Hammond, chief executive officer of Triad Metals International.

Established in 1987, Triad has grown to distribute more than 250,000 tons of steel each year to consumers throughout the Midwest and eastern United States. The Pittsburgh-headquartered company operates additional processing facilities in Pittsburgh and Horsham, Pa.; Petersburg, Va., and Masury, Ohio.

The Indiana Economic Development Corporation offered Triad Metals International up to $340,000 in performance-based tax credits, based on the company's job creation plans. Whitley County will provide additional property tax abatement at the request of the Whitley County Economic Development Corporation. The Whitley County Redevelopment Commission also worked closely with the company to develop the Rail Connect Business Park to support the Triad Metals project.

"This announcement demonstrates Whitley County's ongoing commitment to work proactively with new and existing employers," said Whitley County Board of Commissioners chairman Michael Schrader. "Our local leaders will continue to work closely with Triad and other growth-oriented companies to support the creation of new jobs and investment in our community."

Indiana was recently ranked sixth nationally – and tops in the Midwest – in Area Development magazine's "Top States for Doing Business" ranking. Indiana ranks near the top in five of eight categories important to site selection consultants, including second nationally for infrastructure, third for labor climate, fourth for fast-track permitting, fifth for lowest business costs and fifth for business friendliness. The ranking was based on a survey of national site selection consultants.

About Triad Metals International

Triad Metals International is one of the largest structural steel, tubing and mini mill distributors east of the Mississippi River. Our wholesale distribution centers are located in Pittsburgh and Horsham, Pennsylvania, and Petersburg, Virginia. Triad also processes hot rolled coil and floor plate in Masury, Ohio. For more information visit: http://www.triadmetals.com/default.aspx?pageid=1

About IEDC

Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.

About Whitley County EDC

The Whitley County Economic Development Corporation (EDC) works closely with local, regional, and state partners to support our industry clients' growth and success. The Whitley County EDC was established in 1992 and represents Whitley County, Columbia City, and the Towns of Churubusco, Larwill, and South Whitley. For more information about the EDC, visit www.whitleyedc.com.

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