Magnode Will Invest $41 Million to Expand in Ohio
Investment supports five-year vision to grow its aluminum operations four-fold and play a significant role in the Magnode-Shape global growth
Published: Mon May 24 2021
Company Name: Magnode, LLC
Industry Sector: Advanced Manufacturing
Company Profile: Founded in 1947, Magnode was a multi-generation family-owned company before it was acquired by Shape Corp. in 2018. Shape is a tier one automotive supplier headquartered in Michigan and boasts operations across the world.
Company Website: www.aluminum-extrusions.net/magnode-corporation/
Type of Project: Expansion
- Jobs committed: 171
- Jobs retained: 232
- Types of jobs: Magnode will be hiring for all positions within the organizations including shop floor positions, office positions, technical and non-technical positions.
Capital Investment: $40,800,000
Magnode sought to create a center of excellence for aluminum manufacturing for its customers to have access to a range of aluminum manufacturing capabilities. The center will play a critical role in global business growth and the company’s position as a leader in aluminum.
Growth in the automotive market, particularly in electric vehicle sales, is fueling Shape’s decision to expand.
We are beyond excited to further enrich our aluminum capabilities and working environment for our team members with Shape’s new facility in Trenton. Our growth in the automotive industry is driving significant opportunities to innovate for our customers, which will be optimized by the assets in the new space.
- Mark Butterfield -
Aluminum Division Managing Director, Shape
Magnode decided to expand in Trenton to maintain proximity to its existing facility, the rich local talent base, and the strong infrastructure in the region.
Ohio has been a manufacturing powerhouse for generations, driven by its workforce which is now the third largest manufacturing workforce in the U.S. The numerous manufacturing resources in the state include a renowned innovation network, globally leading companies, and strong industry and academic organizations.
This investment will support Magnode’s five-year vision to grow its aluminum operations four-fold and play a significant role in the Magnode-Shape global growth. The location of the investment is a greenfield site that will allow Magnode to double its existing capacity and still have room for future expansion.
The new facility will include manufacturing, inspection, and testing, and primarily focus on Magnode’s extrusion and post extrusion aluminum business.
JobsOhio, REDI Cincinnati, the city of Trenton, and the Ohio Development Services Agency