Fort Wayne, Ind. (May 12, 2009) — Fort Wayne Metals Research Products Corp. announced today plans for an expansion at its Labeca facility. The company will make real estate improvements and add new equipment to the 3401 McArthur Drive location. The project is expected to be completed in November and will create 20 full and part-time jobs.
Fort Wayne Metals is the market leader for high grade material solutions for critically demanding medical device products throughout the world. The more common materials produced by the company include materials such as titanium and titanium alloys, stainless steel and specialty alloys, such as nitinol. The Labeca plant is responsible for processing titanium wire and rod, as well as providing straight and cut rod in a variety of other materials.
The company will invest approximately $2.3 million in the project, with $1.25 million going toward real estate improvements, and $1 million toward manufacturing improvements. The remainder of the budget will be used for improvements to information technology equipment.
Fort Wayne Metals Research Products Corp. has requested that taxes on the reinvestment be phased in over time. The company could realize $228,279 in real and personal property tax savings over ten years if the request is approved by the City of Fort Wayne. The Fort Wayne Common Council will consider this request at today’s meeting.
About Fort Wayne Metals Research Products Corp.
Established in 1970 and headquartered in Fort Wayne, Indiana, Fort Wayne Metals is a recognized leader in the research, development and production of fine grade medical wire and other material solutions. The company has six production facilities in Fort Wayne and a manufacturing and distribution center in Castlebar, Co. Mayo, Ireland that serves the European market. For more information on Fort Wayne Metals Research Products Corp., visit www.fwmetalsireland.com.