Pennex to Unveil $38M Expansion at Leetonia Plant
LEETONIA, Ohio – Pennex Aluminum Co. will unveil its $38 million expansion project during a press event Friday morning.
Lt. Gov. Mary Taylor will join company and local officials for the first look at the 275,000-square-foot expansion that houses a new aluminum extrusion press line and fabrication area.
Pennex purchased the plant at the World Trade Park here in 2010 from General Extrusions Inc., Boardman. Built in 2002 at a cost of $17.5 million, the building was designed to allow expansion of up to 400,000 square feet, according to Business Journal archives.
The company first announced in January 2014 that it would expand the extrusion facility and create 65 new jobs. The Ohio Job Creation Tax Credit Authority provided a 45%, six-year tax credit to help finance the project.
Pennex says the expansion is the largest in its history.
Pennex Aluminum also operates an extrusion plant in Wellsville, Pa. The company is part of the Metal Exchange Corp., one of the world’s largest suppliers, processors and purchasers of nonferrous metals in the world. Based in St. Louis, MEC has operations in 19 countries.
Among those scheduled to take part in the press event are Dave Riebe, president of Pennex; Mike Lefton, chairman and CEO, Metal Exchange Corp; Mick Merluzzi, president of manufacturing, Metal Exchange Corp; and Robert Mehno, superintendent, Leetonia Exempted Village School District.
Pictured: Pennex Aluminum Co.’s new aluminum extrusion press line and fabrication area.
Copyright 2024 The Business Journal, Youngstown, Ohio.