PLAINFIELD, Ind. (Nov. 13, 2012) – Meritor (NYSE: MTOR), a global supplier to the commercial truck and industrial markets, announced plans today to invest $1.4 million to consolidate its North American remanufacturing operations here, creating up to 82 new jobs by the end of 2013. Meritor expects to transfer production operations from Mississauga, Ontario Canada.
As part of the project, the Troy, Mich.-based company will also create a center of excellence for remanufacturing at its existing 275,300 square-foot facility at 849 Whitaker Road in Plainfield.
“Companies continue to select Indiana as the best state to efficiently and successfully run their businesses,” said Governor Mitch Daniels. “Meritor joins a growing list of companies that have relocated and expanded in the Hoosier State. This is a testament to our hard work in creating the best business environment in the country.”
Meritor, which currently employs more than 350 Hoosiers, will begin consolidating operations and hiring additional production and skilled trade associates in Plainfield this month. This facility, which has been operated by the company since 2004, serves the North American commercial truck industry including original equipment and aftermarket distribution channels.
“The state of Indiana has developed an outstanding environment to establish and grow business for long-term vitality and success,” said Bill Statham, senior manager of Meritor’s North American remanufacturing operations. “We are proud of our investment in remanufacturing and look forward to a strong working relationship in the Plainfield community.”
Founded in 1909 in Detroit, Mich., today Meritor operates 70 locations in 19 countries and employs nearly 10,000 people worldwide. The company specializes in drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets and counts nearly all of the global truck original equipment manufacturers as its customers.
The Indiana Economic Development Corporation offered Meritor Aftermarket USA, LLC up to $450,000 in conditional tax credits and up to $50,000 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 town of Plainfield will consider additional property tax abatement at the request of the Hendricks County Economic Development Partnership.
“We’re pleased that Meritor has decided to expand its operations in Plainfield,” said Robin Brandgard, president of the Plainfield Town Council. “Meritor’s decision to grow its Plainfield operations by nearly a third will add to Plainfield’s reputation for being one of the premiere sites for industrial and distribution centers. We currently have more than 28 million square feet under roof.”
Today’s announcement marks the second company in less than a month to announce plans to consolidate operations to Hendricks County. Recently, Regal Beloit Corp. announced it will invest $8.1 million to move operations from multiple Midwest-based warehouses to its Plainfield facility, creating up to 50 new jobs by 2015.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency, and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in more than 70 countries. Meritor is based in Troy, Mich., United States, and is made up of about 10,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For more information, visit the company’s website at www.meritor.com
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer 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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Robert Herta (Meritor) – 248.435.1185 or email@example.com
Katelyn Hancock (IEDC) – 317.234.2294 or firstname.lastname@example.org