Iron casting plant to expand into aluminum
$52M investment, 34 jobs expected
HUBBARD TOWNSHIP — An iron-casting foundry in the township plans to expand into aluminum casting with a $52 million investment that will create 34 new jobs, according to the company’s application for a tax abatement.
Ellwood Engineered Castings, 7158 Hubbard Masury Road, has plans to expand into the aluminum casting business with Ellwood Aluminum and was given approval Monday by Hubbard trustees for a 10-year, 60-percent tax abatement, said trustee Fred Hanley.
Even with the tax abatement, the township can expect about $50,000 more a year in tax revenue, Hanley said.
“This is a win for the township, a win for the county. We thank the company for being such good neighbors and for entrusting the community with such a sizeable investment,” Hanley said.
Many Hubbard residents work or have worked at the foundry, Hanley said.
Trumbull County commissioners at their Sept. 19 meeting are expected to vote on the abatement, said Nicholas Coggins, interim director of the Trumbull County Planning Commission.
The company plans to build a new 63,000-square-foot building and renovate an existing 29,000-square-foot building to install an aluminum casthouse, according to the abatement application.
The company intends to start the project before the end of the year and finish in the spring of 2020. The company intends on hiring the 34 employees within three years, creating a $2.25 million payroll, the application states.
New construction and additions are expected to cost $4 million, improvements to existing buildings are projected at $3 million, machinery and equipment is expected to cost $24 million and furniture, fixtures and inventory are expected to cost $3 million, minimum. The investment could be as much as $60 million, according to the application.
The parent company, Ellwood Engineered Castings, bought the assets of the Valley Vulcan Mold plant in 1992 when the company was liquidated because of bankruptcy, according to the company’s website. It is the “largest” supplier of ingot molds in North America, the website states. The melt shop has three, 55-ton induction furnances and can produce gray iron castings up to 160 tons. The molds are used by specialty steel and alloy producers.
In 2009, EEC paid $4 million to meet federal air quality standards by adding a fume collection bag house to the melt shop.