IBJNews

Boone County officials ‘surprised’ by ASI closing

Back to TopCommentsE-mailPrintBookmark and Share

Boone County officials are expressing shock over the abrupt closing of a prominent Whitestown manufacturer that employed an estimated 250 people in the Anson development near Interstate 65 northwest of Indianapolis.

ASI Limited, which makes exterior enclosures for large buildings, informed employees by letter on Dec. 30 that the company was shutting down because it was no longer profitable.

In a statement, ASI said: “Management is currently reviewing its financial viability moving forward. It is hopeful that we can re-commence operations sometime in the near future.”

The high-profile portfolio of work ASI has built through the years made the closing even more difficult to understand for Dax Norton, director of the Boone County Economic Development Corp.

ASI makes curtain walls and exterior claddings for large projects throughout the country. Its work in downtown Indianapolis includes buildings such as the 33-story JW Marriott hotel, Lucas Oil Stadium and Central Library.

“This was just as much of a surprise to [employees] as it was to anybody else,” Norton said. “Everything seemed very strong.”

Norton said he has attempted to contact company President Ken Smith via telephone and e-mail to gather more information but has been unsuccessful.

Smith also did not return calls from IBJ.

ASI’s website says the company was chosen to design 219,000 square feet of weathered steel plates for the new Barclays Center in Brooklyn, where the New Jersey Nets are set to begin playing next season. Whether ASI finished the job is unclear.

With $65.2 million in revenue in 2010, ASI ranked as the sixth-largest glazing contractor in the nation, according to USGlass Magazine.

ASI occupied about 200,000 square feet in Anson and was one of three large employers in the development. Amazon has about 1 million square feet and about 850 workers while Medco occupies 400,000 square feet with roughly 450 employees.

Founded in 1989, ASI moved from Park 100 on the northwest side of Indianapolis in 2008 to the Whitestown Industrial Park in Duke Realty Co.’s Anson development.

Whitestown helped lure ASI with a property-tax abatement that is set to expire in 2017, Norton said.

He’s confident Duke Realty ultimately can attract a tenant to fill the space, if ASI closes permanently.

“The demand [for industrial space] is huge,” Norton said. “We have no industrial space available in Boone County. We have spec space, but as far as existing space, there is none.”

Meanwhile, an Indiana Department of Workforce Development spokeswoman said ASI did not file the required paperwork notifying the state of the plant closure.

Companies with at least 100 workers that expect to close or lay off 50 or more employees must notify the state 60 days prior to the action. The requirement falls under the federal Worker Adjustment and Retraining Notification Act of 1989.

Exceptions include “unforeseeable” business circumstances and natural disasters.

Federal guidelines say a company can be fined $500 for each day it is in violation of the required notification. Affected employees or municipalities also can bring federal lawsuits against a non-complying company.
 

ADVERTISEMENT

  • losers
    worked for this outfit in frankfort ky they were a joke
  • ASI Management
    The Commercial Property Market is very weak nationally. The market for application specific enclosures is very competitive, and the lowest bid may not be the highest quality. I hope this firm can reinvent itself locally and not be driven toward offshore fabrication, which several of the company's competitors have selected for profit reasons. I would encourage everyone involved in the bidding process for any large scale project to demand that delivered products be manufactured in the United States, at a competitive price. I truly hope these folks survive long term.
  • quick and cheap wins out
    Julia is correct. There was a hand blown glass shoppe in Nashville Ind. when i was a child. I took my children to see it only to be informed by the owner that they no longer do this. They did for a while, tourist would marvel and watch THEN walk 2 blocks away and buy chinese bulk manufactured glass. So sad but thats where we are.
  • Shame
    ASI used their vendors and bank to fuel there false growth. Is this going the extra mile?
    • Check please...
      Hey, Norman:

      Can you run down the street tomorrow and see if anything is happening in ASI's little fab shop near the site? I'm sure the bond company would love to know.

      Thanks!
    • Barclays Center work not finished
      You say it's unclear whether ASI finished the job of fabricating the facade for the under-construction Barclays Center in Brooklyn. It's pretty clear in Brooklyn that they have not done so.

      See:

      http://atlanticyardsreport.blogspot.com/2012/01/fcrs-gilmartin-tells-crain-that.html
      http://atlanticyardsreport.blogspot.com/2012/01/company-fabricating-metal-arena-facade.html

      Norman Oder
      Atlantic Yards Report
    • Shame
      My experience with ASI Limited and Ken Smith was that they did things the right way, really cared about their work and their employees, and were willing to go the extra mile to serve their clients on special and high-profile jobs.

      In today's low-bid, do-it-cheap-and-quick environment, apparently holding this attitude and sticking to your values is no longer possible if a company is to stay profitable. It's a shame that companies like ASI Limited, who is exactly the type of company we say we want, can't hold on.

      Post a comment to this story

      COMMENTS POLICY
      We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
       
      You are legally responsible for what you post and your anonymity is not guaranteed.
       
      Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
       
      No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
       
      We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
       

      Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

      Sponsored by
      ADVERTISEMENT

      facebook - twitter on Facebook & Twitter

      Follow on TwitterFollow IBJ on Facebook:
      Follow on TwitterFollow IBJ's Tweets on these topics:
       
      Subscribe to IBJ
      1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

      2. Do you need finance to establish your business ? Are you interested in getting a loan at 3% from our private company? If so please Email: suntrust_oil@blumail.org

      3. If she was worth the $ the public outcry over direct tv dropping them would have kept them on their dishes as we have seen with other companies. I too quit watching channel 13 after she showed up since I left channel 8 because of her all show rather than production results. When Randy on 8 corrected her she had a big head and incorrectly challenged his correction for pronunciation of a city. Other antics while she matures was too much for me with her very inaccurate forecasts. All the forecasters were predicting rain until Thursday except Chris. They predicted sunny on Thursday but instead of rain until Thursday upon which the sun would finally make it out in full glory Chris was right on the money just as I too predicted looking at the radar on weather.gov. One thing I love about Angela is the fear you can see in her every time it thunders in the winter. It far exceeds the entertainment value of her body language (high heel noise drags, depression, etc) when her forecasts are so incorrect. Her hair stands on end, you have to see it!!!

      4. Good Day, Apply For A Loan I am Mr Fernadez Antonio, a private Loan lender and a cooperate financial for real estate and any kinds of business financing. I also offer Loans to individuals, Firms and cooperate bodies at 3% interest rate We offer any kind of loans. email us via fernadezloaninvest@outlook.com LOAN APPLICATION FORM First name:......................... Middle name:......................... Last name:........................................ Date of birth (yyyy-mm-dd):....................... Gender:........................................... Marital status:................................... Total Amount Needed............................... Loan Duration.................................... Address:.......................................... City:............................................. State/province:................................... Zip/postal code:.................................. Country:.......................................... Phone:............................................ Fax:.............................................. Mobile/cellular:.................................. Monthly Income.................................... Occupation:....................................... Best Regard, Mr Fernadez Antonio.

      5. i will love to share my testimony to you all the people in world i got married to my husband about 2 year ago we start having problems at home like we stop sleeping on the same bed,fighting about little things he always comes home late at night,drinking too much and sleeping with other women out side i have never love any man in my life except him. he is the father of my child and i don't want to loose him because we have worked so hard together to become what we are and have today .few month ago he now decided to live me and the kid,being a single mother can be hard sometimes and so i have nobody to turn to and i was heart broken.i called my mom and explain every thing to her,my mother told me about DR.okoro how he helped her solve the problem between her and my dad i was surprise about it because they have been without each other for three and a half years and it was like a miracle how they came back to each other. i was directed to DR. okoro on his email:okorospell@gmail.com and explain everything to him,so he promise me not to worry that he will cast a spell and make things come back to how we where so much in love again and that it was another female spirit that was controlling my husband he told me that my problem will be solved within two days if i believe i said OK So he cast a spell for me and after two days my love came back asking me to forgive him i Am so happy now. so that why i decided to share my experience with every body that have such problem contact Dr okoro the great spell caster on his email addresses spellcasterforlove@outlook.com

      ADVERTISEMENT