At last night’s Pierceton Town Board meeting, Shiloh Industries, headquartered in Valley City, Ohio, announced it had acquired the Contech Casting plant and operations in Pierceton and Auburn. The company will invest $3.3 million in facility renovations and new manufacturing equipment in Pierceton. Plant manager, Randy Kinsey noted that they had already begun renovations and bringing in new equipment. Not only did this improve employee morale but they have seen orders increase and greater interest from their automotive industry customers.
Built in 1997, the facility does aluminum die casting and machining of parts for motor vehicles. “Through several ownership changes, the facility aged and the employment declined”, noted KEDCo President George Robertson at the hearing. Last year the prior company had laid off 60 employees as orders declined. He said Shiloh’s purchase meant improved facility, equipment and jobs. “This was a manufacturing operation we almost lost.” Robertson concluded. County Commissioner Bob Conley, who represents Pierceton, agreed and welcomed Shiloh to Kosciusko County.
Armando Espinoza, Town Board President, stated “The Town of Pierceton is pleased that Shiloh has chosen operations in Pierceton to expand production. We are appreciative that this operation is committed to increasing employment and in making capital improvements to the facility. This operation is an important employer for the town of Pierceton and Kosciusko County.”
The Town Board took the first step in offering tax abatements on the new real estate improvements and new equipment. “The State of Indiana has been very aggressive in offering incentive to keep this operation in Indiana”, Robertson noted. Shiloh, which operates in six states and Mexico, said they had found a warm welcome in Indiana in acquiring the Pierceton and also Auburn Contech Facilities.
Shiloh is traded on the NASDAQ since 1993 with the symbol “SHLO”. They currently employ 1,750 employees.