Auto parts maker expanding in Franklin

Casting Technologies Co. plans to add 40 jobs to 85 existing positions as it expands its aluminum parts operation in Franklin.

The company sells cast parts to carmakers that are looking to reduce weight.

Casting Technologies is owned by Compass Automotive Group Inc., which is headquartered in the city south of Indianapolis.

Compass was created by its owner, Monomoy Capital Partners LP, a New York private equity firm, as an umbrella under which to consolidate its automotive acquisitions.

Compass received commitments from the Indiana Economic Development Corp. of as much as $351,000 in incentives based on its reaching performance goals.

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