9/28/2010
HEADLINES
Ohio Rod Products Plans $3.1m Expansion

Fastener manufacturer Ohio Rod Products plans a $3.1 million investment in machinery at its facility in Versailles, IN.
 

The expansion will create as many as 33 new jobs by 2013, boosting the company’s current headcount of 70 by nearly 50%. 

Ohio Rod plans to buy new machinery and start hiring additional manufacturing and supervisory personnel this fall as the new business is phased in.
 

“Our traditional markets have matured, and we need to expand our manufacturing capabilities in order to realize the growth potential that exists in other fastener-related markets,” stated Ohio Rod president Jeff Liter. “Our location in southeastern Indiana continues to be beneficial to us by providing a reliable employee base, as well as proximity to our anticipated new business opportunities.”
 

The Indiana Economic Development Corp. has pledged up to $160,000 in performance-based tax credits and up to $50,000 in training grants based on the company’s job creation plans. 
 

The town of Versailles also is considering a tax abatement for the plan, and the neighboring city of Lawrenceburg has pledged a $500,000 grant from the Lawrenceburg Regional Economic Development Grant program.
 

Founded in 1947 in Cleveland, Ohio Rod Products moved its entire operation to an 18-acre site in Versailles, IN, in 1966.

The company produces long length, small diameter headed and threaded metal fasteners for customers in the electric motor, wire and cable, material handling, automotive, and construction industries. Ohio Rod is owned by Elgin Fastener Group, with sister facilities in Cleveland; Martin, TN; and Osgood, IN. Web: ohiorod.com  ©2010 GlobalFastenerNews.com

Related Links:

• Ohio Rod