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[IEDC] Michigan- and Kentucky-Based Steel Processors Pick Indiana for Joint Venture
Start Date: 5/28/2014Start Time: 12:00 AM
End Date: 5/28/2014
Entry Description
JEFFERSONVILLE, Ind.  (May 28, 2014) – Delaco Kasle Processing Indiana, LLC (DKP Indiana), a processor of exposed and unexposed aluminum and steel blanks, announced plans today to locate its operations here, creating up to 105 new jobs by 2017.
 
“Indiana has built a business climate designed to support development and encourage enterprise,” said Eric Doden, president of the Indiana Economic Development Corporation. “That very business climate is attracting companies from across the nation like DKP Indiana that recognize the Hoosier State as the best location available to put their growth plans in action. With lower expenses and the best workforce around, Indiana has earned its reputation as a state that works.”
 
Earlier this month, the Diez Group and Steel Technologies LLC announced a joint venture that included Kasle Metal Processing, which had operated in Jeffersonville since 2004. The Diez Group and Steel Technologies will invest $14.28 million to upgrade and expand the existing 120,000 square-foot former Kasle Metal Processing facility at the Port of Indiana – Jeffersonville, which will grow to 226,000 square-feet by summer 2015. DKP Indiana has already retained 71 former Kasle Metal Processing employees.
 
“We are very pleased to partner with Steel Technologies to expand this outstanding facility in Jeffersonville,” said April Diez, chairman of the Diez Group. “We appreciate the support of the state of Indiana, and we look forward to growing this facility. The area’s skilled workforce and central location will help the Diez Group and Steel Technologies combine their expertise to open new markets in the South and Midwest.”
 
Serving the automotive, appliance and agriculture industries, DKP Indiana processes aluminum and steel coils and blanks. A minority- and woman-owned business, the company plans to add new production lines to its Jeffersonville facility, which will be operational next summer. The Diez Group, which is part of the Delaco Steel family of businesses, is based in Dearborn, Mich. and currently operates additional facilities in Michigan, New York and Tennessee. Louisville-based Steel Technologies, which is a joint venture between Nucor Corporation and Japan-based Mitsui & Co., is a flat-rolled steel processor with 25 company-owned and joint venture facilities across the United States, Canada and Mexico.
 
The Indiana Economic Development Corporation offered Delaco Steel Corporation up to $750,000 in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Jeffersonville will consider additional incentives at the request of One Southern Indiana.
 
“I want to thank the Diez Group and Steel Technologies for having confidence in our city,” said Jeffersonville Mayor Mike Moore. “Jeffersonville has become the destination place for growing businesses. The Diez Group’s and Steel Technologies’ partnership with DKP Indiana is further proof our business-friendly approach continues to pay dividends for our community.”
 
Indiana’s unemployment rate fell to 5.7 percent in April, decreasing 2.1 percent over the last year, the third-largest decrease in the nation. In 2014 alone, Indiana’s labor force has added 37,000 Hoosiers.

About Diez Group
The Diez Group is part of the Delaco Steel family of businesses. The Delaco Steel Corporation is based in Dearborn, Michigan, and it has several locations in Michigan, New York, Tennessee and now Indiana. The company is the largest Hispanic and woman-owned supplier and manufacturer of aluminum and steel coils and blanks in the United States. For additional information, please visit www.thediezgroup.com.
 
About Steel Technologies LLC
Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading steel processors in North America and leverages its broad geographic network of operations to deliver value-added products and services to customers. Steel Technologies is owned as a 50-50 joint venture between Nucor Corporation, one of North America’s leading manufacturer of steel and steel products, and Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. More information about Steel Technologies can be found at www.steeltechnologies.com.
 
About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

  
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Media Contacts:
Roger Shannon (Steel Technologies) – 502.245.2110 or rdshannon@sttxna.com
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov
Contact Information:
Name: Katelyn Hancock
Phone: 317-234-2294
Email: kahancock@iedc.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • Business & Agriculture
  • Agency Name
    Economic Development Corporation, Indiana

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