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Andover Coils, a manufacturer of ignition coils and transformers announced recently that it will expand its operations here creating up to 52 new jobs by 2013.
The company, which manufactures ignition coils for use in the automotive, marine, aviation, industrial and health care industries, plans to invest $1.3 million to upgrade equipment and computer hardware at its 48,000 square-foot Lafayette headquarters. Andover Coils' growth is the result of a recent acquisition of a competitor based in Illinois.
"Andover Coils is proving once again that there's no better place than Indiana to grow a business," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Today's announcement is another step forward for Indiana and Lafayette."
Andover Coils currently employs more than 30 associates in Lafayette and plans to begin hiring additional manufacturing, supervisory and maintenance personnel in the first quarter of 2011 as additional operations are phased in at the facility.
"As the economy continues to rebound, there is no better time to grow the business by consolidating with a competitor. And there is no better place to do it than here in Indiana where we have a great workforce and 90 percent of our supplier base," said Mike Coyle, co-owner of Andover Coils.
Founded in 1946, Andover Coils manufactures ignition and power conversion equipment for performance automotive, motorcycle, marine and aircraft engine OEM's and aftermarket suppliers. In the 1960s, the company became the first supplier of coils for Harley Davidson's original battery-powered ignitions.
The Indiana Economic Development Corporation offered Andover Coils up to $150,000 in performance-based tax credits based on the company's job creation plans. The city of Lafayette will consider additional property tax abatement at the request of Greater Lafayette Commerce.
"This is a hometown company, founded here in Lafayette in 1946 and operating continuously since. And with its recent acquisition, Andover is not only continuing to operate here, it is expanding operations. Andover Coils certainly knows how to celebrate its 65th anniversary," said Lafayette Mayor Tony Roswarski.
Indiana's manufacturing industry received an overall "A" grade in the 2010 Manufacturing and Logistics Report Card, released in July by Conexus Indiana. The state also received "A" grades for its global manufacturing position and tax climate.
About Andover Coils
Andover Coils is one of the industry's principal producers of ignition coils for high performance automotive, large industrial, motorcycle, and aircraft engines. They also manufacture magnetic contactor coils and medical X-ray transformers. Andover serves customers that prefer Made-in-America products designed for high performance and demanding environments. Founded in 1946, Andover Coils is headquartered in Lafayette Indiana. For more information visit: http://andovercoils.com
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
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