SOURCE: Pennex Aluminum Company

Pennex Aluminum Company

August 07, 2015 15:02 ET

Pennex Aluminum Company Unveils $38 Million Expansion; Adds Jobs in Leetonia, OH Facility

Largest Expansion in Company History Adds 175,000 sq ft and More Than 65 New Jobs

LEETONIA, OH--(Marketwired - Aug 7, 2015) - Today Pennex Aluminum Company officially unveiled a $38 million state-of-the-art expansion which nearly triples the size of the Leetonia, OH aluminum extrusion and fabrication facility. The expanded 275,000 square feet facility now includes two aluminum press lines, including one of the most innovative 12-inch press lines in the world. Each press gives Pennex the unique capability to create specialized and customized aluminum products for customers.

"This expansion gives Pennex the opportunity to do more with aluminum than ever before," said Dave Riebe, Pennex President. "We have advanced our world-class capability to create larger, custom extruded aluminum products for our customers, providing solutions that exceed customer expectations. In addition, we've more than doubled the capacity of our aluminum fabrication lines, giving us the ability to supply complex, custom fabricated parts faster."

The Pennex fabrication lines create highly specialized parts for major automotive manufacturers and other transportation related companies. In addition, Pennex provides custom fabricated parts for building and construction businesses. With the expanded facility in Leetonia comes additional shifts and more than 65 new jobs, with the potential to add even more jobs in the coming years.

"This investment in the Leetonia community represents the continued comeback and expansion of American manufacturing right here in Ohio," said Lt. Governor Mary Taylor. "This investment in the community and job creation is yet another example that the economic turnaround is happening and Ohio is helping lead the way."

The $38 million expansion project was supported in part by a 45%, six-year tax credit from the State of Ohio, a 15-year tax abatement from the Village of Leetonia, and a partnership with Columbiana County.

"The continued growth of Pennex is a tribute to our hard-working employees unwavering commitment to the success of our long-term customers," said Rick Merluzzi, Metal Exchange Corporation (MEC) President. "This expansion of building, equipment, and highly trained staff along with unique press and fabrication capabilities represent our vision to enhance our ability to take aluminum recycling, casting, extrusion and fabrication to the next level." 

About Pennex Aluminum Company:
Pennex Aluminum Company, LLC is a subsidiary of St. Louis-based Metal Exchange Corporation (MEC), one of the world's largest suppliers, processors, and purchasers of non-ferrous metals. Pennex is a global leader in extruded aluminum parts manufacturing that specializes in recycling aluminum to create unique finished products used every day. Pennex offers turnkey solutions to create specific aluminum chemistry, extrude unique aluminum shapes, and fabricate finished products to design requirements with world class quality and delivery. With operations in Greenville, PA, Wellsville, PA, York, PA and Leetonia, OH, the company continues to build its strong market position.

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