(Indianapolis, Indiana) - Chain system manufacturer Iwis Drive Systems says it will expand its North American headquarters and manufacturing operation here, more than doubling its workforce in the next three years.
The maker of chains, sprocket wheels and accessories for agricultural and industrial equipment will invest more than $1.5 million to relocate and upgrade production equipment from its current southwest Indianapolis facility, according to a news release from the Indiana Economic Development Corporation. Moving to a 60,000 square-foot facility on the city's northwest side will result in nearly 40 new jobs, the company says.
A subsidiary of the Munich, Germany-based Iwis Group, Iwis Drive Systems employs 18 in Indianapolis. The company plans to begin hiring additional manufacturing associates and professional staff in the first quarter of 2009 as facility upgrades are completed. The Indiana Economic Development Corporation offered Iwis Drive Systems up to $235,000 in performance-based tax credits and up to $28,500 in training grants based on the company's job creation plans.
“The growth of Iwis Drive Systems in the United States has developed as our company has created innovative solutions to our customers' needs," said Dan Egenolf, president of Iwis Drive Systems. "Indiana has provided a great foundation for this growth with access to qualified personnel, a central location and favorable cost structure to maintain our global competitiveness."
Founded in 1916 in Germany as a manufacturer of drive chains for automobiles, the Iwis Group and its subsidiaries have grown to more than 1,100 employees throughout Europe, North America, South America and Asia. The international manufacturer markets its products in more than 45 countries. For more information about the company visit www.iwis.com
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