By Joseph Slacian
jslacian@thepaperofwabash.com
WABASH, Ind. – The Wabash City Council found Wabash Castings compliant with its statement of benefits as part of its 10-year tax abatement with the city.
The abatement was originally issued to Harvey Industries in 2012. However, it was transferred to Wabash Castings in August 2016. Wabash Castings took the business over in 2015.
Plant Controller Shawn Floor discussed the matter with Council on Monday, June 12.
“We have progressed,” he said, “and were able to get two new jobs immediately into the plant. We have another one starting in two years.
“We have approximately $80 million in quotes out to customers, right now. We don’t anticipate, obviously, getting all that, but we do have that out there.
“We’re trying to fill our plant up.”
The firm is now operating at about 40 percent capacity.
“But we are at 120 employees,” Floor continued.
Last year, about $2.2 million in capital was invested in the plant, he said. So far this year, another $800,000 was invested, and he anticipates that figure to be at $2.2 million at the end of 2017.
“We are upgrading the old equipment,” Floor said. “We are making a safer plant.”
The company also has started a 401K matching program.
“So we are trying to give back to the employees,” Floor said.
Wabash Castings, Inc. manufactures and supplies aluminum castings and provides aluminum casting, machining, assembly, and polymer injection molding services for transportation and industrial markets. It offers aluminum intake manifolds, cylinder heads, brackets, oil adapters, oil pump housings, oil pans, water pump housings, water crossovers, valve covers, front end accessory drives, and radiator end tanks for automotive and other manufacturers.
Floor, answering a question from Council member Bryan Dillon, said the firm is still tied to the automotive industry.
“We are trying to diversify ourselves out into other (areas),” Floor said. “We have quotes out in non-automotive. Like I said, we hope to get some of those, but we haven’t up to this point.”