Matalco announces Lordstown investment
A new billet-manufacturing facility will bring up to 80 new jobs to the Mahoning Valley.
Matalco Inc., a Brampton, Ontario-based company that makes aluminum billets for the aluminum- extrusion industry, announced the new facility will be under construction at its site in the Ohio Commerce Centre on Tod Avenue in the coming months and completed by early 2016.
A groundbreaking will take place Sept. 17 for the $100 million, 200,000-square-foot manufacturing plant.
It is estimated that the Lordstown facility will employ 60 to 80 full-time personnel with an annual production of 350 million pounds of various series, high-quality aluminium billet.
“This significant investment clearly demonstrates our unwavering commitment to serve our customers and expand our market share,” said Armand Sanguigni, president, Matalco Inc. “After a lengthy selection process, we decided on Lords-town as the site of our new plant because of its location relative to our market, its exceptional workforce and the comprehensive incentive package and assistance provided from both the state and local levels. Overall, we are excited to be part of this progressive community as this will bring new jobs and opportunities to the region. ”
The Youngstown/Warren Regional Chamber worked with real-estate group CBRE to identify a preferred property for Matalco and provided a significant amount of project support.
Matalco Inc. has two plants in Brampton, Ontario, and Canton. The company provides LEED-qualified material and is both ISO 9001 and 14001 certified.
Matalco is a part of Giampaolo Group.
In December, the Ohio Job Creation Tax Credit Authority approved tax credits for Matalco Inc. The company was approved for a 50-percent, eight-year tax credit that would provide $450,000 in assistance from the state.
It also stood to receive an economic development grant, as well as workforce services and on-the-job training.
Additionally, the village of Lords-town has approved a 75-percent, 10-year property tax abatement for the Canadian company.