ARI Affiliate to Build New Plant in Paragould

PARAGOULD, AR (KAIT) - Axis LLC, a joint venture between American Railcar Industries (ARI) and Amsted Industries, this morning announced plans to locate a new 135,000-square-foot axle manufacturing facility in Paragould.  The company will invest $75 million in the facility, which will employ 40 people.  The axles produced will be used in railcars.  The company will begin production by the third quarter of this year.

Axis is building on a seven-acre site on Jones Road, near the existing ARI plant in Paragould.  ARI also has manufacturing facilities in Marmaduke, and Kennett, MO.

Region 8 News will have more information tonight on Region 8 News at Five and Region 8 News at Six.