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Voestalpine Rotec to Invest US$1.4 Million in New Line
02/13/2013 - Lafayette, Ind., manufacturer Voestalpine Rotec, which makes precision steel tubes and other products for the automobile industry, is investing in a new product line, a local newspaper reports.
Lafayette, Ind., manufacturer Voestalpine Rotec, which makes precision steel tubes and other products for the automobile industry, is investing in a new product line, a local newspaper reports.
The company will spend US$1.4 million on production of air bag propellant tubes and will hire 10 workers.
The equipment, which is under construction in Italy, will be ready for installation this summer. The company currently has a workforce of 110 people.
“As this is a new product line to the Lafayette facility, it is expected that further investment and growth will follow in coming years as new customers are added to the expanding portfolio,” company President Andrew Ball said in a statement.
The Voestalpine Group is headquartered in Linz, Austria, and operates 500 companies and locations in more than 50 countries. The group is a leading European producer of flat steel for the automotive, white goods and energy industries worldwide. The Lafayette location was formerly called Elmsteel Inc.
Click here to read this story from JConline.com.
