High-Tech Aluminum Casting Company to Locate in Bluffton

BLUFFTON, Ind. (Dec. 12, 2007) – Governor Mitch Daniels joined executives from start-up aluminum billet manufacturer Alexin LLC today to announce the company will locate its first manufacturing facility here, creating more than 50 new jobs.

Alexin will invest more than $56 million to equip and finance its new production facility that will transform scrap aluminum into billet for extruders throughout the Midwest.

“More and more companies are recognizing that Indiana is a great place to do business, and we’re glad Alexin selected Indiana for their new operation,” said Governor Mitch Daniels.

Led by aluminum extrusion veteran Tom Horter, Alexin plans to begin operations in 2008 following the construction of a new 100,000-square-foot manufacturing facility and a 200,000-square-foot storage area in the 1300 block of South Adams Street. When operational, the facility will produce more than 210 million pounds of aluminum billet annually.

“We chose Bluffton as the site of our new plant because if its great people and location relative to our market. We are excited about becoming new members of the Bluffton and Wells County communities. Alexin will be a progressive business, and we believe Wells County is a progressive place,” Horter said.

The Indiana Economic Development Corporation offered the company up to $745,000 in performance-based tax credits and up to $37,500 in training grants based on the company’s announced job creation plans. The City of Bluffton offered the company property tax abatement. First Source Bank will provide equipment and working capital financing for the new venture.

“Alexin's decision to build in Bluffton is a tribute to the cooperative spirit that exists among the Chamber, the State of Indiana and the city,” said Mayor Ted Ellis. “We are thrilled that Alexin has chosen Bluffton, bringing good, well-paying jobs to our community. Our previous discussions with their owners have assured me that they will be very good corporate citizens."

There are 29 aluminum extruders in Illinois, Michigan and Indiana, according to the Aluminum Extruders Council. All use billet aluminum similar to what Alexin will produce for applications in commercial and residential construction, truck chassis, trailer and RV manufacturing.

"First Source Bank is proud to support Alexin, its management team and the Bluffton community” said Larry Mayers, First Source Bank’s senior vice president of business banking. “Through this type of involvement, First Source encourages high-paying manufacturing jobs in northeast Indiana, fills a need in the industry, and supports experienced, highly motivated entrepreneurs."

About Alexin LLC

Alexin LLC is a start-up company that is developing a green-field, state-of-the-art aluminum billet casting facility. The facility will re-melt aluminum scrap to produce high-quality aluminum billet used to support aluminum extrusion facilities in the Midwest. The plant will consist of 100K sq. ft. of manufacturing space and 200K sq. ft. of outside storage (i.e. scrap yard). For more information about Alexin, visit www.AlexinLLC.com.

About IEDC

The Indiana Economic Development Corporation is the state’s premier entity charged with economic development. The IEDC has a 12-member board chaired by Governor Mitch Daniels. Indiana Secretary of Commerce Nathan Feltman is also chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.IN.gov.

Media Contact: Mitch Frazier (IEDC) – 317.232.8873

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