G&S Metal Consultants, located in Wabash, Ind., recently received a loan of $600,000 from the state of Indiana’s Department of Commerce office of Energy and Recycling. The loan is the second for the company, which is involved in melting aluminum scrap.
The loan came from the state’s Recycling Promotion and Assistance Fund. It will be used to add an additional melt furnace to its Wabash facility. The expansion is expected to boost the amount of scrap aluminum by an additional 100,000 tons a year.
The company takes in high grade aluminum and ingot and melts it into aluminum for the automotive markets. The company specializes in recycling 356 alloy high grade aluminum. It is a preferred source for recycled aluminum for Ford Motor Co.
“This ecologically responsible project is what we hope to see all Hoosier companies striving to do,” said Lt. Governor Joe Kernan, director of the Department of Commerce. “By regenerating otherwise wasted by-products, G&S is setting an example worthy of applause.”
G&S buys, sells, processes and converts aluminum turnings and scrap by-products into specification ingot and sow. The company has rapidly expanded in the last two years, adding two new furnace lines (one of which was purchased with the company’s first RPAF Loan), and now requires another line to keep up with demand.
The Recycling Promotion and Assistance Fund helps Indiana businesses in expanding current production capabilities or implementing new manufacturing processes to make recycled-content products or industrial feedstock. Zero-interest loans of up to $500,000 ($1 million for successful companies wishing to expand in Indiana) are available per applicant, not to exceed 50 percent of eligible project costs, to purchase equipment needed for this manufacturing process.