Wolverine, NEO planning expansions [Yahoo! Finance]
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Source: Yahoo! Finance
Wolverine Tube, one of Decatur's oldest industries, has one new expansion ready to go and more planned. NEO Industries Inc. is also expanding. The Decatur Industrial Development Board met Thursday and approved tax abatements for Wolverine and NEO based on their expected investment. Wolverine Industries operates a full-service aluminum extrusion plant at 2100 Market St. N.E. The plant, which originally opened in 1945, shut down its copper tube manufacturing in 2008 amid the global recession. It reopened in 2017 with a new owner and a new product: aluminum components. Wolverine officials told the IDB that their company is preparing to begin a $20.4 million project this summer and fall in which they will add an integrated aluminum manufacturing facility and fabrication equipment. The company is aiming for December completion. Gil Moats, Wolverine director of financing, said the Decatur plant needs the addition to generate funds for future projects. He said they have three presse
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