Alexandria Mayor Jack Woods said plans are for Maryland-based Floatograph Technologies to buy the former U.S. Pipe facility from the city and then repair and remodel the factory.
Woods told The Herald Bulletin of Anderson that the company could eventually have 100 workers in the Madison County city about 45 miles northeast of Indianapolis.
Floatograph co-owner Frank Liestenfeltz said the company plans on expanding operations it now has in nearby Fairmount. Some of the Fairmount factory's 25 workers will remain there, while others will move to Alexandria.
The company's products include specialized utility trailers with telescoping masts that it mostly sells to the military and defense contractors.