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Auto parts manufacturer to open plant in Steuben County

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CTA Acoustics Inc., a Michigan manufacturer and supplier of acoustical and thermal insulation parts for the automotive industry, announced on Wednesday that it plans to open a new facility in Orland and add 140 jobs by 2014.

The company, whose customers include General Motors, Ford Motor Co., Chrysler and Nissan, said its $9 million investment will go toward leasing and equipping a 93,000-square-foot facility in the Steuben County town in northeast Indiana.

The new plant will produce under-hood and under-dash insulation for GM trucks and SUVs.

CTA Acoustics, which has 375 employees nationwide, plans to begin hiring managers and manufacturing workers later this year.

The Indiana Economic Development Corp. said it will provide the company up to $1.16 million in performance-based tax credits and up to $100,000 in training grants based on its job-creation plans. The town of Orland, about 50 miles north of Fort Wayne, will consider additional property-tax abatements.

Founded in 1971, CTA Acoustics is headquartered in Madison Heights, Mich., and also has manufacturing operations in Corbin, Ky.
 

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

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