Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 for the first time in more than two years. GM shares reached $33.A global auto parts supplier is investing more than $9.4 million in equipment and creating 52 new jobs in DeKalb County, an economic development official confirmed Tuesday.
Multimatic Indiana Inc., 201 R.E. Jones Drive, Butler, employs 126 workers who make tracks that van doors slide along, internal structures for vehicle roofs and bumpers. Current payroll is more than $5.7 million.
The Canadian company plans to install new machinery throughout this year, concluding in July 2014.
Officials will fill 48 of the jobs this year and four in 2014. Average hourly wages will be $14.50, according to a tax abatement application.
The Butler Common Council on Monday unanimously approved a 10-year tax break that could save the privately held company an estimated $684,246.
Parent company Multimatic Inc. operates 10 factories under three divisions: mechanisms, engineering, and structures and suspension
Ken McCrory, executive director of the DeKalb County Economic Development Partnership, said the county’s employment is revving up as auto sales increase.
Car sales reached a five-year high in 2012 and have continued rising.
“They’re going after new business,” McCrory said of Multimatic. Company officials could not be reached Tuesday.
Multimatic in November 2010 announced plans to add 209 jobs by 2013.
But based on workforce numbers the company reported then and now, it currently has only 40 more employees.
