Cheap dollar lures German firm to New Castle

November 28, 2007

A German company that makes pipes, containers and other plastic parts for the auto, heating and medical industries is opening a plant in New Castle because the weak value of the American dollar lowers the cost of the investment.

Founder Claus Koetke told The Star-Press of Muncie that he located the facility in the eastern Indiana city because the person who will be president of the facility, Chad McClung, lives in nearby Connersville.

The $3 million project by KVK Koetke GmbH will be located in an existing building and will employ 25 workers by 2010. The plant will pay workers $18 an hour.

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