Spanish Transmission Components Maker to Expand in Delaware County
Yorktown, IN (April 30,
2008) – Lieutenant Governor Becky Skillman joined officials today from
Miasa Automotive LLC, a manufacturer of transmission components for the
automotive industry, to announce that the company will expand its
operations here creating more than 57 jobs by 2012.
The company, a subsidiary of Spanish
transmission components manufacturer, Miasa, established its operations
in America less than one year ago to accommodate contracts from New
York–based Magna Powertrain. Miasa Automotive will invest more than $8.4
million into facility improvements and machinery upgrades at its 54,000
square-foot manufacturing facility in Yorktown.
"East Central Indiana continues to be a leader in advanced
manufacturing," Skillman said. "More and more companies are recognizing
that Indiana is a great place to do business, and we’re glad Miasa chose
to continue their growth here."
Miasa’s latest expansion comes as a result of projects won to
manufacture gearbox components to be used at transmission systems
manufacturer, GETRAG’s, Irapuato, Mexico operations. With a current
employment of 17 workers, Miasa Automotive will begin hiring production
associates and management staff in 2008. The company’s project with
GETRAG is valid through 2015.
Founded in 1968, Pamplona, Spain-headquartered Miasa currently
exports its aluminum and copper components to markets throughout Europe
and North America. Worldwide, Miasa employs more than 240 employees with
annual revenues reaching $69 million.
"We are delighted with the support provided at the state and local
level, and from the hard-working workforce that exists in Indiana,"
Miasa plant manager Sergio Palacios said. "Indiana is where we are
building our base for future success."
The Indiana Economic Development Corporation offered Miasa Automotive
up to $450,000 in performance-based tax credits and additional training
assistance contingent upon the company’s job creation plans. The Town
of Yorktown will provide property tax abatement on the new real estate
improvements, with the City of Muncie providing additional financial
assistance. The Muncie-Delaware County Economic Development Alliance
(Vision 2011) assisted the company in site selection, and financial and
incentive procurement.
"This is a great day for the Town of Yorktown and Delaware County,"
said Steve Lowry, President of the Yorktown Town Board. "We are
extremely pleased Miasa has chosen to expand in Delaware County and we
pledge to continue to work with them and help them grow and achieve
their maximum potential here."
Rich Clasby, Vice President and General Manager, Honeywell ECC Maxon
and Vice Chairman for the Vision 2011, Muncie-Delaware County Economic
Development Alliance noted Miasa’s announcement today is yet another
step in the right direction for Delaware County.
"The community’s recent successes in attracting international
manufacturing companies like Miasa and Magna Powertrain (MPT-Muncie) and
Fortune 500 companies like Sallie Mae and IBM, along with back office
accounting centers like Jarden Home Brands have been significant,
positive events. These companies are bringing thousands of new jobs and
nearly $100 million in new investment," said Clasby. "These are the type
of growing and profitable companies that will be here for a long time
to come. They are producing quality job opportunities for the residents
here," added Clasby.
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About the Muncie-Delaware County Economic Development Alliance:
Vision 2011 is the Delaware County's five year economic development program and is administered by the Muncie-Delaware County Chamber of Commerce and Delaware Advancement Corporation. For more information about the EDC, visit www.muncie.com.About the Indiana Economic Development Corporation (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. Indiana Secretary of Commerce Mitch Roob serves as the CEO of the IEDC. For more information visit www.iedc.in.gov.About Miasa Automotive LLC:
Founded in Spain in 1968, Miasa designs, develops and produces gearbox components for vehicles through the casting and machining of light copper and aluminum alloy. The company currently exports its gearbox components, selector forks and transfer case actuators to Portugal, United Kingdom, France, Rumania, Germany and Brazil.