Two existing Decatur industries have announced plans to invest in their local facilities. Feralloy Corporation and Vision Wheel, Inc., both will begin construction on their multi-million dollar projects in May 2015.
Feralloy Corporation, located on Red Hat Road, plans to invest $2.8 million in its facility with the purchase and installation of new equipment. The addition will allow them to cut heavier gauge steel and expand their customer base. Jeff Diener, Vice President of Feralloy Steel Sales Division, stated “The addition of this new equipment will help us expand our customer base by providing additional high-quality products to the marketplace. It will also help secure the continued employment of our team members in Decatur.”
The Feralloy expansion will secure the company’s current 56 employees, with the addition of construction jobs through the expected completion of the project in May 2016.
Vision Wheel, Inc. also announced plans to invest in their Decatur facility. The company will invest $4.75 million in their 6th Avenue location where their corporate headquarters, retail, wholesale distribution and manufacturing operations all reside. The expansion will secure its current 70 employees and they expect to add an additional 18 new jobs.
Vision Wheel’s investment includes the addition of a 101,250 square foot facility that will allow the company to expand its manufacturing and distribution operations to accommodate the needs of one of their larger customers, Polaris. Polaris announced earlier this year that it will be constructing a new manufacturing facility in Limestone County. “The growth of our customers and overall business is positively impacting our southeastern business model. This year marks our 40th anniversary. It is a very special time for our organization. We are blessed to be experiencing strong sustainable growth”, said Roger Minor, Vision Wheel’s owner.
Vision Wheel’s project is expected to be completed on or before June 1, 2016.
Jeremy Nails, President and CEO of the Morgan County Economic Development Association, added “We truly appreciate both Feralloy’s and Vision Wheel’s continued investment and commitment to our community. We value the economic impact that these two world-class companies have on our local economy and we will continue to support their respective operations in the future as they continue to reinvest in their facilities.”