MUNCIE, Ind. (AP) – An auto parts company plans to spend more than $15 million on new equipment for a Muncie factory where it expects to add perhaps 50 workers in the coming year.

The Delaware County Council has approved a five-year property tax abatement worth $543,000 as an incentive for Magna Powertrain's investment.

The Star Press reports the company now has almost 400 workers at the factory where it makes drivetrain components.

Terry Murphy of the Muncie-Delaware County Economic Development Alliance says the new equipment will include laser welders and should be installed by next year.

The company expects to start hiring for the new jobs this summer and have them all added by December 2015.