Tian Yuan, a joint venture company established by New Albany, Indiana-based Shaw Bros. Co. Inc. has announced plans to invest $2.3 million to lease and install equipment at a new manufacturing facility in Salem, Indiana. The manufacturing plant, scheduled to start operations later in 2018, will produce secondary plastic resins to be used in extrusion processes.
According to a news release issued by the Indiana Economic Development Corp. (IDEC), the plant is expected to complement Shaw Bros.’ production capabilities and is being designed to meet demand from both domestic and international customers as Shaw Bros. enters new markets.
Denise Hsiao, general manager of Shaw Bros., comments, “Tian Yuan and Shaw Brothers are very pleased to be making this investment in Salem. We look forward to growing our business and continuing to be a strong corporate citizen.”
Shaw Bros., an industry broker of plastic scrap and secondary resins, was founded in 1985. On its website, the company indicates it trades in a variety of resins, including nylons, expanded polystyrene (EPS), polycarbonate, polypropylenes and ABS (acrylonitrile butadiene styrene).
The IEDC offered Tian Yuan up to $140,000 in conditional tax credits and up to $20,000 in training grants based on the company’s job creation plans. The company says it intends to hire 35 people between 2018 and 2021.
The city of Salem and the Washington County (Indiana) Economic Growth Partnership also will offer incentives, according to the IEDC news release.
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