European magnet wire company pledged an $18 million investment in Fort Wayne, promising to open its first plant outside of Europe.
Tretau, which operates as Tau Wire Group, made the announcement Tuesday. The factory will replicate the company’s Pianezza (Pea-ah-nee-tsa), Italy factory which uses a proprietary eco-friendly coating technology.
The magnet wire industry has been an important part of Fort Wayne’s industrial base for more than a century. Enamel insulation for metal wire was invented in the city in 1914.
Magnet wire is used in everything from automobiles to headphones.
The company estimates more than 70 new jobs will be created over the next four years, according to a press release.
Fort Wayne Mayor Sharon Tucker praised the announcement, particularly the location of the facility in the city’s southeast quadrant.
It is the company’s first U.S. manufacturing facility, according to Greater Fort Wayne.
