Toledo Molding & Die Inc. expects to add 150 jobs to its northwest Ohio work force after receiving new supply contracts from Ford Motor Co. and Chrysler Group LLC.
The jobs will be divided among Toledo, Delphos, and Tiffin.
"You never want to be too cocky or confident in this business. Success is fleeting and it's a struggle every quarter to win business, but these are a couple of very nice awards for us that will allow us to increase our payroll and our head count and further invest in Ohio," company President Steve Ciucci said. "We're very pleased about the ability to do it and the opportunity to do it in northwest Ohio."
Toledo Molding & Die, based in Toledo, employs about 1,000 people. It has two manufacturing plants in Toledo and one each in Bowling Green, Delphos, and Tiffin. The company makes powertrain, HVAC, and interior components for automobiles.
Mr. Ciucci said Toledo Molding & Die likely will lease new manufacturing space in Toledo and expand its Delphos plant. No expansion will be necessary in Tiffin.
"There are new jobs being created in Toledo and Tiffin supporting Chrysler business that will launch next year," Mr. Ciucci said. "The jobs in Delphos are primarily in support of Ford business that will launch in the latter part of next year."
Mr. Ciucci declined to provide specifics on what vehicles his company's parts would support.
Chrysler soon will shut part of its Toledo Assembly complex for several months to retool the plant to build the next-generation sport utility vehicle that will replace the current Jeep Liberty -- and potentially several additional vehicles. After the plant reopens, it will have a second shift and has the potential to add hundreds of supplier jobs to Toledo.
The Ohio Tax Credit Authority approved 50 percent, seven-year tax credits to each Toledo Molding & Die site this week.
The approval included a stipulation that Toledo Molding & Die maintain operations at each project site for at least 10 years.
"We're delighted we were able to receive approval on Monday for those incentives. It's definitely a factor in our decision to expand, and add those jobs in the state of Ohio as opposed to elsewhere," Mr. Ciucci said.
Of the 150 jobs, 41 are marked for Toledo, with 45 expected in Delphos, and 64 expected in Tiffin. The total payroll created is expected to be $4 million a year.
Mr. Ciucci said Toledo Molding & Die would add some employees early next year, but the bulk of the hiring would be done in the second and third quarters of 2013.
Contact Tyrel Linkhorn at: firstname.lastname@example.org or 419-724-6134.