Dive Brief:
- Wellsville, PA-based Pennex Aluminum Co. opened a $38 million expansion that nearly triples the size of its Leetonia, OH aluminum extrusion and fabrication facility. Pennex specializes in recycling aluminum to create specialized parts for automotive manufacturers and other transportation-related companies, and custom fabricated parts for building and construction businesses.
- The 275,000-square-foot facility now has two aluminum press lines, including one that the company describes as being among "the most innovative 12-inch press lines in the world."
- The expansion brings additional shifts and more than 65 new jobs, with the potential for more.
Dive Insight:
The expansion project was supported in part by a 45%, six-year tax credit from the state of Ohio, a 15-year tax abatement from the village of Leetonia, and a partnership with Columbiana County. The new jobs are a good start on a return for that investment.
Pennex — a subsidiary of St. Louis-based Metal Exchange Corp. (MEC) — is on the path of growth. Rick Merluzzi, president of MEC, told Recycling Today: "The continued growth of Pennex is a tribute to our hard-working employees' unwavering commitment to the success of our long-term customers. This expansion of building, equipment and highly trained staff along with unique press and fabrication capabilities represent our vision to enhance our ability to take aluminum recycling, casting, extrusion and fabrication to the next level."
