Global Manufacturer to Expand in Frankfort
FRANKFORT, Ind. (Oct. 12, 2011) - Lt. Governor Becky Skillman joined executives from LEP Special Fasteners, Inc., a manufacturer of specialty steel fasteners, today to announce the company's plans to relocate parts of its operations from Illinois to here, creating up to 160 new jobs by 2015.
The company, a subsidiary of Italian-based Fontana
Fasteners Group, will relocate parts of its management, sales and
distribution functions of Fontana America, Inc.
and Fontana USA, Inc. from Elgin, Ill. to Frankfort and expand and
equip its current facility by 250,000 square feet. This expansion will
more than double the existing capacity at the manufacturing plant.
"We're
thrilled to have an international company like LEP choose to invest its
key operations in Indiana and further establish a home away from home
in our state," said Skillman. "Because of our talented workforce and
competitive low-tax policies, we're able to bring more jobs to Hoosiers
and solidify Indiana's reputation as a leader in manufacturing."
LEP,
which currently employs 190 full-time employees in Indiana, plans to
begin the initial hiring process for new administrative, management,
sales and distribution associates next month.
"Indiana was
selected for the expansion and the investment because of the strong
support of the state of Indiana and Clinton County for the project, the
company's excellent employee base with its current workforce, the
pro-business climate of the state of Indiana, and the advantageous
geographic location for servicing its customer base," said Giuseppe
Zichella, chief executive officer of LEP. "Being a family business, we
are committed to success in the long run. The Fontana family businesses
are based on strong, mutually beneficial relationships between employer,
employee, the community and the environment. We believe LEP's core
value of teamwork, responsibility and trust will ensure success."
LEP
specializes in manufacturing standard and to-print fasteners for the
agricultural, transportation, construction and automotive markets. The
company's products can be found in famous structures including Chicago
O'Hare Airport's United Airlines Terminal, Philadelphia's One Liberty
Place Center and Cleveland's Progressive Field. LEP serves a broad
manufacturing customer base including Caterpillar, Paccar, John Deere,
Cummins, Chrysler and Volkswagen.
The Indiana Economic
Development Corporation offered LEP Special Fasteners, Inc. up to
$3,000,000 in performance-based tax credits and up to $200,000 in
training grants based on the company's job creation plans. Clinton County has approved additional tax abatement.
"Clinton
County is a better place with LEP being here. Their dedication to being
the best in their business creates an attitude of excellence that
benefits our entire community," said Shan Sheridan, economic development
director at the Clinton County Chamber of Commerce. "Although this
expansion and investment is vital to economic growth, it is the
commitment and conviction LEP has to its core values that makes them a
great partner."
About LEP Special Fasteners
LEP Special Fasteners specializes
in manufacturing standard and to-print fasteners for the agricultural,
transportation, construction and automotive markets. Its
manufacturing, distribution and company offices are located in
Frankfort, Ind. For more information about LEP Special Fasteners, please
visit www.lepinc.com.
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. Dan Hasler serves as the
chief executive officer of the IEDC. For more information about IEDC,
visit www.iedc.in.gov.