A Seymour auto parts maker recently completed the acquisition of a 5-acre site with the future in mind.
Officials with Seymour Tubing Inc., however, don’t have any expansion plans at this time — at least that they’re talking about publicly — a local economic development leader said.
“They are buying it for possible future growth,” said Jim Plump, executive director of Jackson County Industrial Development Corp.
Plump said there have been no plans discussed between company officials and himself about any imminent growth.
“That property became available. It is adjacent to their property, and they purchased it,” Plump said.
A company official who asked not to be named confirmed Plump’s statement about the property being purchased for potential projects in the future but said there is nothing in the works at this time.
The company bought the former Industrial Services of America Inc. site at 1565 E. Fourth St. for $840,000. The property lies just east of Seymour Tubing’s 26.758-acre site.
Seymour Tubing is a subsidiary of Nippon Steel and Sumikin Pipe Co. Ltd. and Mitsui & Co. USA Inc. and makes steel tubing components for the automotive industry. The company was founded in 1989 in Seymour.
Industrial Services of America, which buys, processes and markets ferrous and nonferrous metals and other recyclable commodities, moved from the site in December to a 14.334-acre site at 960 S. County Road 900W, near the Jennings County line. The new location formerly was operated by Cohen USA.
The 2014 property tax bill, payable this year, is $12,655.50.
The new ISA facility includes a 64,622-square-foot building that houses the retail buying operation, allowing customers to drive in, park and unload in an enclosed warehouse.
The company, which also offers waste management programs and equipment to commercial customers, was able to increase its nonferrous processing capabilities with the horizontal baler at the new location.
Sean Garber, president of ISA, said the move has improved accessibility and features the only nonferrous drive-thru buying center in the region.
“We like operating in Seymour because it gives us the flexibility to supply our headquarters facility in Louisville or to sell our material directly into the open market,” he said.
According to a survey completed by the development corporation in the first quarter of 2014, Seymour Tubing was the county’s fourth-largest industrial employer with 467 workers.
ISA Real Estate purchased its site from Penske Truck Leasing in July 2005 for $425,000 after it began leasing the property July 5, 2002, according to property tax records. The property had a total assessed value of $516,200 in 2014.