angle-left

Web Content Display

Wieland Metals $25 million expansion to double its U.S. metal tube production

July 11, 2018
Source: ASM International

Wieland Metals Inc., Wheeling, Ill., recently announced plans for a $25 million expansion to build a new 110,000-square-foot plant on 11 acres outside Chicago, creating an estimated 65 new jobs.  Wieland Group, headquartered in Germany, currently operates two companies in the U.S. with 600 employees, including Wieland Metals current 220,000-square-foot facility adjacent to the new plant in Wheeling, and Wieland Copper Products LLC, in a 560,000 square foot facility located in Pine Hall, N.C.

Scheduled to be completed by summer of 2019, the facility will be used to manufacture, warehouse, distribute, and sell metal tubes.  With more than 85 percent of the new space dedicated to manufacturing, the plant will double Wieland’s production capacity for enhanced surface tubes in the U.S.

Local officials unanimously recommended a property tax incentive with a 6b classification. Once construction is completed, the 6b incentive allows the land to be taxed at 10 percent for ten years, followed by 15 percent in the 11th year and 20 percent in the 12th year. After the 12-year period has elapsed, the property will be taxed at the standard 25 percent rate.

The company is also seeking an Economic Development for a Growing Economy (EDGE) tax credit from the state. The EDGE credit is calculated and provided as a percentage of the expected income tax that will be generated by the creation of new jobs.

www.wielandmetals.com

Subject Classifications

Industries and Applications | Metal Products and Machinery

Materials Processing and Treatment | Extrusion

Materials Processing and Treatment | Forming


Email a friend