Statement issued Tuesday:
Fort Wayne Metals Research Products Corp. announced today that it will expand operations at its LABECA facility, located at 3401 McArthur Drive. The company will invest $2 million in manufacturing equipment and will retain 66 jobs. The project will begin this month and is scheduled to be completed in November 2012.
"This investment will allow us to focus on making sure our products remain innovative and at the forefront of the medical grade wire industry," said Troy Linder, controller for Fort Wayne Metals. "Our LABECA subsidiary has experienced considerable growth in the last few years and we are working hard to ensure this trend continues."
Fort Wayne Metals is known for researching, developing and producing fine grade medical wire. Its products serve multiple markets, including the vascular therapy, cardiac rhythm management, endoscopy, orthopedics, dental, neuromodulation and neurostimulation industries.
Along with its Fort Wayne headquarters and facilities, Fort Wayne Metals also has a production and distribution facility in Castlebar, Ireland, a sales office in The Netherlands, and distribution representation in Brazil, Argentina, Japan and Turkey.
"Fort Wayne Metals has a long history in our community and I'm thrilled that they continue to grow and thrive here," said Mayor Tom Henry. "This most recent expansion by the company is a testament to Fort Wayne's business-friendly economic climate and to the quality of our local workforce. Fort Wayne Metals' on-going investment shows its commitment to the successes and well-being of our community."
Fort Wayne Metals has requested that taxes on the project be phased in over time. The company could realize $124,396 in personal property tax savings over a 10 year period if its abatement request is approved. The company's tax abatement request will be introduced at tonight's Fort Wayne Common Council meeting in the City County Building.
About Fort Wayne Metals Research Products Corp.
Established in 1970 and headquartered in Fort Wayne, Indiana, Fort Wayne Metals is a recognized leader in the research, development and production of fine grade medical wire and other material solutions. The company has six production facilities in Fort Wayne and a manufacturing and distribution center in Castlebar, Co. Mayo, Ireland that serves the European market. For more information on Fort Wayne Metals Research Products Corp., visit www.fwmetals.com.