Pennex Aluminum Co. has announced its plans to undergo a $33 million expansion project of Leetonia, Ohio, aluminum extrusion facility. Headquartered in Wellsville, this industrial aluminum scrap recycling company plans to start this project that includes installation of construction of specialized fabrication production center, extrusion press line and an expansion of 170,000-square-foot building.
Dave Riebe, the president of the company says, “This expansion involves advanced technology that will provide unique capabilities to serve our customers.” This expansion adds to the company’s 35-year history of creating high-quality extruded aluminum products to meet the needs of its customers.
Rick Merluzzi, the CEO of the company says, “This significant investment reflects our unwavering commitment to serve our long-term customers and prospective customers. The Leetonia expansion follows Pennex’s acquisition of the facility in 2010, the expansion of the York, Pa., fabrication facility in 2012 and the 2013 acquisition and restart of the billet casting operation in Greenville, Pa.”
To assist them, Ohio has approved a 45%, 6year tax credit for this project. In addition to that, their partnership with the Port Authority of Columbiana County will further facilitate their investment.
