PMG Indiana's $150 Million Collapse: What It Means for ICE Suppliers

PMG Indiana Corp. filed a WARN notice with Indiana's Department of Workforce Development (registered September 2nd) confirming the permanent closure of its 186,000-square-foot powder-metal plant at 1751 Arcadia Drive in Columbus, Bartholomew County. All 150 remaining jobs are gone by December 31st. Workforce reductions begin November 1st.

The number that belongs in front of your leadership team: more than $150 million in cumulative losses over eight years: roughly $18.75 million per year, absorbed by Füssen, Germany-based PMG Holding GmbH cross-subsidizing a Columbus operation that had passed any reasonable standalone viability threshold. The Columbus City Council granted PMG a ten-year tax abatement in November 2019 tied to a $4.7 million equipment investment. In hindsight, that abatement was extended during a period when losses were already accumulating, a data point worth carrying into any future long-dated tax incentive discussion tied to ICE-exposed operations.

The customers named in the internal plant notice (Stellantis, Hitachi, Valeo) now face a supplier requalification window for OWC and powertrain sinter components that has to close by Q1 2027. Typical PPAP cycles for precision powder-metal parts run six to eighteen months. That math creates real line-stoppage exposure on legacy ICE platforms still in production. This is also the second major Bartholomew County automotive supplier closure of 2026, following NTN Driveshaft's announced ramp-down in March. The pattern is compounding.