AM General plant in Mishawaka to be sold this year
MISHAWAKA, Ind. - A global business firm KPS Capital Partners announced Wednesday that it will be buying the AM General military HUMVEE manufacturing plant in Mishawaka this year.
The financial details of the sale have not yet been announced, but according to AM General's website, KPR said in a statement "We are excited to acquire AM General, a legendary American company and world leader in the design, engineering, manufacturing and support of light tactical and specialty vehicles. We look forward to working with Chief Executive Officer Andy Hove, the Company’s management team, and all of AM General’s employees to build on this great platform, organically and through acquisition. We intend to leverage the Company’s commitment to research, technology, innovation and new product development, as well as its heritage and iconic brand name. KPS’ demonstrated track record and history of successfully investing in specialty vehicle businesses – as well as its global platform and significant financial resources – make us exceedingly confident that AM General will continue to thrive under KPS’ ownership for the benefit of its customers and all stakeholders.”
One business owner in the area said she is excited about the prospect of AM General expanding.
"We did get a lot of employees that would stop by and inquire about fireplaces from us, and it was, obviously, very nice," said JCS Fireplace and Stone, Inc. Co-owner Cindy Sawyer. "Then, it seemed to slow down and we just didn't see many of the employees pop in. We haven't in a long time. So, it would be beneficial for us if they did expand."
Sawyer said she hopes KPR will allow AM General to continue on its current path only with more people.
"Continue with the business that they had been doing and yet, grow. Obviously, have more employees. That would be wonderful for the city, for the community, for local businesses, that would be great."
KPR did not give an exact date for the sale to go through only that it might happen in the third or fourth quarter of 2020. It also said it is too early to tell if this sale will add more jobs to Michiana.