Kokomo-based automotive manufacturer Metco Inc. announced plans Monday for extensive production expansion and a new manufacturing warehouse, a development that could bring a handful of jobs to Kokomo within the next couple years.
The $500,000 expansion investment follows Metco’s decision last fall to acquire Michigan-based auto parts supplier Standard Starter Drive Company, and may result in 15 to 16 new jobs, according to Metco President and CEO Mike Tweed.
Metco will soon be completed with the relocation of Standard's production and distribution to Kokomo, he said.
“The expansion is a combination of us growing well organically, and the decision to acquire [Standard Starter Drive Company],”’ said Tweed, whose company produces DC power products and related components, including hubs, motor-to-solenoid connectors, shafts and motor accessories.
“We are expanding mainly by building a new warehouse, which will free up the old warehouse for production.”
The new 8,000-square-foot warehouse - which is near completion - is located at 2109 N. Wabash Ave. and will be utilized to handle additional production and distribution responsibilities following the new business acquisition, along with Metco’s own production growth, said Tweed.
Joining the new warehouse will be the cost of additional equipment necessary for the production of Metco’s newest product – starter drives – and future investments in the company, rounding out the $500,000 total.