Freudenberg NOK-Sealing Technologies, a joint venture between Germany-based Freudenberg and Co. and Japan-based NOK Corp., plans to expand its operations to Morristown, Indiana. The company plans to create up to 75 new jobs by 2019.
The provider of custom sealing technologies will invest $20 million to expand its existing 65,000-square-foot manufacturing facility at 487 W Main St. by 20,000 square feet. The additional space and equipment will increase the plant’s manufacturing operations, which are expected to grow by approximately 40 percent over the next five years.
The investment will also be used to enhance the facility’s exterior, including parking and driveways for semi-trucks, to improve safety. The company, which currently employs 266 full-time Indiana residents in Morristown, will begin hiring immediately.
“Freudenberg-NOK’s Morristown facility provides highly-engineered, custom sealing components to general industry and automotive customers in the Americas and around the world,” said Dr. Theodore G. Duclos, President of Freudenberg-NOK. “It is absolutely essential that we invest in this facility and its work with what has become a burgeoning customer base. We are happy to invest in the success of this facility and the greater Morristown region. This expansion will help us better serve crucial markets with highly innovative, quality products.”
The Freudenberg-NOK Morristown plant produces more than 100 million components annually for both automotive industry and general industry customers, including off-set seals, transmission seals, fuel system seals, driveline seals and diaphragms.
As an incentive, Indiana Economic Development Corporation offered Freudenberg NOK-Sealing Technologies up to $625,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Morristown will consider additional incentives at the request of the Shelby County Economic Development Corporation.
“Indiana’s reputation as a manufacturing leader continues to attract investment and new jobs,” said Governor Mike Pence. “With more than twenty facilities across the country, Freudenberg-NOK’s decision to expand its operations here in the Hoosier State is no coincidence. Our low-cost business climate and highly-skilled workforce assures companies from across the globe that Indiana is a state that fuels economic growth and works for the future of advanced manufacturing.”