FORT WAYNE, Ind. (AP) — An Italian steel company is planning a $30.5 million expansion of its northeastern Indiana plant that will create up to 45 new jobs over the next three years.

Valbruna Slater Stainless Incorporated announced Friday that it will build a 166,000-square-foot addition to its existing Fort Wayne plant, renovate two adjacent buildings and add new equipment. Construction is expected to be complete by late 2015.

The Journal Gazette reports that Valbruna Slater Stainless produces stainless steel and nickel alloy bars in various shapes and sizes for the oil and gas, automotive, biomedical industries and other industries.

The company currently employs about 100 full-time workers in Fort Wayne.

Greater Fort Wayne Inc. says the state and local agencies are offering a combined $5.3 million in economic incentives for the expansion.