Metaldyne M&A Bluffton LLC, an auto industry supplier, plans to invest $8.2 million in equipment and add more than a dozen jobs, Wells County officials said Wednesday.
Wells County Economic Development said Metaldyne will add 13 jobs at its Bluffton plant, where it already employs 292.
The plant at 131 Harvest Road is part of Metaldyne’s Drivetrain Products group. Average wage for the new employees will be more than $17 an hour.
The company received approval Tuesday for a tax abatement from Bluffton City Council, economic officials said.
Daun Spurgeon, engineering and maintenance director for the Bluffton plant, attended Tuesday’s council meeting along with Diane Johnson of Wells County Economic Development to request the $420,000, 10-year abatement.
Along with buying new equipment, the company expects to expand its product line.
Metaldyne makes transmission components for the automotive industry. Products include powder metal engine connecting rods, engine bearing caps, engine cylinder oil jets, transmission sub-assemblies, forged differential gears and pinions, differential assemblies, engine balance shaft modules, transmission shafts and engine crankshaft dampers, according to a news release.
Metaldyne has more than $1 billion in annual revenue, with 26 locations in 13 countries. The auto supplier is owned by American Securities, a leading private equity firm.
In its written request to the City Council, Metaldyne said the investment is part of ongoing efforts to invest in the latest technology. The investment will allow the facility to meet customer demand and stay competitive.
Metaldyne’s growth in Bluffton is a direct result of the innovation and expertise of the leadership as well as the entire facility team, Bluffton Mayor Ted Ellis said in a statement.