MacLean-Fogg Component Solutions, a company that provides engineered metal and plastic components to the industrial, automotive, military, agricultural, aerospace, and electrical power markets, will invest more than $30 million to build an 86,000 square foot precision component machining factory at its Metform location on Route 84 in Savanna, Illinois.
Duncan MacLean, the firm's president said; "This investment will enable Metform to significantly expand its already strong position in the driveline component forging and machining market."
"This investment in infrastructure, machinery and equipment is expected to top $30 million and create more than 50 new jobs within the next 2 years," Matthias Praus, Vice President and General Manager at Metform, said.
Operations are expected to commence in the first quarter of 2013.Metform has three Illinois locations: two in Savanna and one in Mt. Carroll. Information on whether the firm received a package of incentives from state or local government, was not immediately available.