Magnet wire company to invest $7 million in new plant, add 25 jobs

FORT WAYNE, Ind. (WANE) A company that makes magnet wire will invest more than $7 million to expand in Fort Wayne.

Magnet wire maker Alconex will build a new facility at Cook and Chalfant roads in Fort Wayne. (Google Maps)

President and CEO C. David McBane confirmed to NewsChannel 15 on Monday that Alconex plans to build a 100,000 square foot facility at Cook and Chalfant roads. Alconex current has a facility on Ferguson Road.

McBane said that while most of Alconex’s product is shipped to Mexico, the company intends to stay in northeast Indiana.

Alconex currently has about 70 employees, but plans to add another 25 over the course of the next 5 years.