Stamping company invests $20 million in expansion
MANITOWOC, Wis. (AP) – A Manitowoc stamping company said it expects to add 100 jobs over the next year and a half as it completes a $20 million expansion.
Jagemann Stamping, a 67-year-old manufacturer of bullet casings, automotive components and electrical connectors for solar panels, is adding 50,000 square feet to its plant on the city’s west side. It’s also investing in new technology and equipment.
The expansion is expected to open in the fourth quarter of the year. Once the company is done adding jobs, it will have about 325 employees.
“To be back in the mode of growing again is a lot more fun and exciting than wondering where the next order is going to come from,” the company’s CEO Tom Jagemann told the Herald Times Reporter.
Jagemann said the past four or five years were tough on manufacturers, but the uncertain economy did not stop the company from growing. Among other things, it added Jagemann Precision Plastics in Tennessee.
“Even if there is a slowdown, we’re comfortable with where are at (and) pulled the trigger,” he said.
The company already has a 175,000-square-foot facility that was built a dozen years ago. Its expansion will be a separate building on an 8-acre parcel of land the company bought from the city of Manitowoc for about $160,000.
Jagemann said the company has received help from the city, state and private lenders with its expansion.
“This is great news for our community as we begin to see local companies investing in their business and once again adding jobs back into our market,” Mayor Justin Nickels said.
The company’s president Ralph Hardt said the expansion will allow the company to grow over the next decade.
“We are currently experiencing growth in all our key business segments – deep draw, progressive, fine blank, plastic-metals and JAG brass casings,” he said.
The company is looking to hire press technicians, machinists, CNC operators and tool and die makers.
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