Schafer Gear Honored with Economic Award
February 16, 2012—Schafer Gear Works was recently honored with the Economic Impact Award from the Chamber of Commerce of St. Joseph County, Indiana. Presented at the Chamber's Annual Salute to Business Luncheon, this award recognizes a company's strategic vision and its sustainable capital investment in the local economy. In early 2011, Schafer Gear announced a joint venture with Somaschini S.p.A. of Italy to produce engine gears for the heavy-duty truck market in North America. As part of this joint venture, a new 50,000-square-foot plant was built on the Schafer Gear campus on Nimtz Parkway in South Bend. The total joint venture investment was $18 million, including the new manufacturing facility. As a result, 25 jobs will be added by the end of 2012.
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