KOKOMO, Ind. (AP) — Haynes International plans a $24 million project to increase production at a central Indiana factory where it makes specialty metal plates and sheets for the aerospace and other industries.
Haynes CEO Mark Comerford says the investment will add about 20 percent to the Kokomo factory's capacity and improve its product quality. The Kokomo-based company makes nickel- and cobalt-based alloys for use in many industrial applications.
The company says it has seen increased demand from the aerospace, chemical and natural gas industries. Haynes also is planning a $37 million expansion of an Arcadia, La., factory where it makes titanium tubing.
The Kokomo Tribune reports (http://bit.ly/KZczHS ) Haynes anticipates adding 40 jobs to its 700-worker Kokomo plant.
Mayor Greg Goodnight says the project will help diversify Kokomo's auto industry-dominated workforce.
Titanium tubing company to expand in north La.
ARCADIA, La. (AP) — A company that makes titanium tubing for the aerospace industry says it will expand its manufacturing plant in Arcadia, creating 19 new jobs at the site.
Indiana-based Haynes International Inc. announced the $37 million expansion Monday, at an event with Gov. Bobby Jindal. The north Louisiana facility expansion is estimated to be fully operational by October 2014.
Haynes is a leading producer of titanium hydraulic tubing for global aircraft manufacturers. The new jobs at the Arcadia plant will pay an average salary of $38,000 plus benefits, according to Jindal's office.
The state economic development department is giving Haynes a nearly $1.2 million modernization tax break over five years. The company also will get a tax break for offering quality jobs with benefits and a local property tax break.