KVK U.S. Technologies Inc., the newly formed U.S. subsidiary of German plastics giant KVK Koetke GmbH, recently announced it will locate its first U.S. manufacturing operations in New Castle, Ind., creating 25 new jobs by 2010.
The company will invest more than $3 million to establish its new plastic blow molding operations in a leased facility in New Castle and plans to begin manufacturing plastic products at the facility in 2008.
KVK US Technologies will begin hiring machine operators, assembly workers, engineers and managers in 2008. The company plans to grow its U.S. product line to include plastic components for the auto, medical and other technical markets.
"We feel strongly that Indiana has the technical resources and supporting industrial companies that will allow our company to grow and be successful," said Claus Koetke, managing partner, KVK U.S. Technologies Inc.
Founded in Germany in 1979 as a plastics packaging manufacturer, KVK U.S. Technologies' parent company KVK Koetke GmbH has grown to become a leader in the European plastics industry. With 240 employees in Germany, the company manufactures plastic products for the automotive, home appliance, medical and packaging industries.
The Indiana Economic Development Corp. offered KVK U.S. Technologies up to $192,000 in performance-based tax credits and up to $15,000 in training grants based upon the company's job creation plans.
The City of New Castle will provide the company with personal property tax abatement, and the New Castle/Henry County Economic Development Corporation will provide the company with a $1,000 grant for site improvements.
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