KTR Corporation Continues North American Expansion
Investment by KTR Corporation in Michigan City to result in increased competiveness
Michigan City, IN – KTR Corporation is adding two new machines for production, increasing their production efficiency, allowing for an increased competitiveness and lower the cost of operations for their Michigan City operation.
KTR Corporation was founded in Michigan City, Indiana in 1988 and is an ISO 9001:2008 Certified, SAP driven organization. Their 42,000 square foot manufacturing, warehousing, and sales office facility employs a team of over sixty power transmission specialists. KTR’s strategic location and product mix enables them to effectively supply and service the North and Central American marketplace. KTR’s couplings and other components are used worldwide.
This project includes the installation of one new specialized production machine and the replacement of another obsolete production machine. This project will allow the company to process in-house machining work that is presently outsourced. It will also enable the company to machine components that the company will introduce to the North American hydraulic market. The customer base is the United States, Canada, and Mexico.
KTR Corporation will be investing over $250,000, as well as creating 2 new jobs to its workforce of 62 employees at its location on 122 Anchor Rd., Michigan City, Indiana.
The tax abatement was approved by the Michigan City Council and will save the company about $20,000.
“We are delighted to see that Michigan City, Indiana continues to attract and retain global companies that are seeking a high quality of life, great workforce and a progressive community” said Michigan City Mayor Ron Meer.
KTR Corporation’s Controller John Osborn said, “The tax abatement will allow us to increase our competitiveness and reduce the overall costs of our operations and to demonstrate to our parent company in Germany that Michigan City, Indiana remains a favorable location for manufacturing.”
Michigan City will benefit from the additional employment being made available when the project is completed.
Economic Development Corporation Michigan City, Indiana (EDCMC) addresses the needs of local businesses with the Business Retention and Expansion Program (BR&E). Through the program, EDCMC works to understand the local business climate, determine future expansion plans with local action, acquaint business executives with programs available through its partners and provide effective solutions to specific concerns and problems.
Local companies looking to expand their business may call the EDCMC at (219) 873-1211 for more information. For more information on KTR Corporation, visit http://www.ktr.com/us/index/company/about_us.htm.