Trailer company buying closed northern Indiana factory

A trailer company is buying a closed northern Indiana factory and plans to resume production work there.

Executives of Novae Corp. joined Gov. Mitch Daniels on Wednesday in announcing plans for the company's expansion in North
Manchester, where it expects to employ perhaps 85 people by 2013.

Markle-based Novae is spending $3.4 million to buy and remodel the 88,000-square-foot plant that Dexter Axle Co. announced
in 2008 that it was closing in a production consolidation. The Dexter factory had about 165 workers at the time.

The Indiana Economic Development Corp. offered Novae up to $570,000 in performance-based tax credits based on the company's
job-creation plans. Novae will receive local assistance from Wabash County, the town of North Manchester and the city of Wabash.

Novae has some 150 workers at facilities in Markle and Columbia City. Production at the North Manchester plant will focus
on enclosed utility trailers.

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