Pennex Shows Off Its $38M Expansion in Leetonia
LEETONIA, Ohio – Pennex Aluminum Company LLC today unveiled its new $38 million expansion. The addition nearly triples the size of the aluminum extrusion and fabrication plant, expanding it to 275,000 square feet,
The plant now includes two aluminum press lines, including one of the “most innovative 12-inch press lines in the world,” the company says. Each press gives Pennex the ability to create specialized and customized aluminum products for customers.
“This expansion gives Pennex the opportunity to do more with aluminum than ever before,” said Dave Riebe, Pennex president. “We have advanced our world-class capability to create larger, custom extruded aluminum products for our customers, providing solutions that exceed customer expectations. In addition, we’ve more than doubled the capacity of our aluminum fabrication lines, giving us the ability to supply complex, custom fabricated parts faster.”
The Pennex fabrication lines create highly specialized parts for major automotive manufacturers and other transportation related companies. In addition, Pennex provides custom fabricated parts for building and construction businesses
The expansion will bring additional shifts and more than 65 new jobs, with the potential for additional employment opportunities in the coming years, company officials say.
The $38 million 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.
“This investment in the Leetonia community represents the continued comeback and expansion of American manufacturing right here in Ohio,” said Lt. Gov. Mary Taylor., who spoke at today’s press event. “This investment in the community and job creation is yet another example that the economic turnaround is happening and Ohio is helping lead the way.”
Rick Merluzzi, president Metal Exchange Corp., described the plant’s growth as “a tribute to our hard-working employees unwavering commitment to the success of our long-term customers.”
Pennex is a subsidiary of St. Louis-based MEC.
“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,” Merluzzi said.
Pennex also has operations in the Pennsylvania communities of Greenville, Wellsville and York.
Pictured: The expanded Pennex plant in Leetonia.
Copyright 2024 The Business Journal, Youngstown, Ohio.
