From the Indianapolis Star:
When another Indianapolis manufacturing company closed up and moved overseas a few years ago, L & E Engineering President Greg Sandberg found a golden growth opportunity.
International Aerospace Tubes moved to Singapore in 2009, so L & E bought its old equipment, hired some of its former workers and started calling its former customers.
Picking up this slack has been so profitable that L & E plans to nearly double its existing factory and workforce over the next decade.
“We hired guys with 25, 30 years of experience,” Sandberg said. “So tubes are relatively new to us but not to our employees.”
L & E, owned by Franklin, Ohio-based Ferco Aerospace Group, has been turning sheet metal into brackets and small parts since 1956. It was located on the Southside of Indianapolis until 1999, when it moved to 254 N. Graham Road in Greenwood.
In addition to brackets, the firm now shapes metal tubes that become fuel supply lines in jet engines.
The Indiana Economic Development Corp. last month awarded L & E up to $400,000 in conditional tax credits and up to $50,000 in training grants to help with the expansion of its 23,000-square-foot factory. The company employed 54 people in May when the expansion was announced and plans to hire 52 more workers by 2016.
Greenwood also awarded L & E a $259,000 tax abatement to help with the construction and equipment costs.
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http://www.indystar.com/apps/pbcs.dll/article?AID=2013306170060
