Diamond Chain searches for new manufacturing site
Indianapolis, IN -- Nov. 28, 2002 -- Diamond Chain Company, a manufacturer of power transmission roller chain, is i...
Indianapolis, IN — Nov. 28, 2002 — Diamond Chain Company, a manufacturer of power transmission roller chain, is investigating the potential sale of its outdated, 500,000-sq-ft facility on a 20-acre site in downtown Indianapolis. The location has been its main plant and headquarters since 1918.
“Even if we do sell our property, Diamond Chain will remain a Hoosier company and stay in the Indianapolis area,” says president James Humphrey. “We have been an integral part of this community for more than 110 years, and we appreciate how important 600 well-paying manufacturing jobs are to the local economy.
“Our location and growth of the downtown area indicate that now is an excellent time to market our property, and then proceed with finding the best replacement site at the best price.”
The downtown four-storey plant is inadequate to meet the company’s increasingly sophisticated production demands. “Given our present structure’s age and layout, it is a testament to the effort of our employees that we have been able to maintain our edge competitively,” said William Eisler, director of human resources.
“However, with maintenance costs and inefficient use of space, the time has come for a change. We would prefer everything on a single floor with easy access to the city’s great roadway system,” Eisler said.
The company estimates the entire process could take about two years to complete. Diamond Chain is being represented by Meridian Real Estate Services and Trammell Crow Company.
Diamond Chain is a subsidiary of Chicago-based Amsted Industries Inc., a privately-held diversified manufacturer of products for railroads, construction markets and general industry.