Neenah Foundry Co., Neenah, Wis., said that it will invest more than $50 million to construct a new molding line, according to Foundry-Planet.com.

Bill Barrett, president and chief executive officer, said construction of the 75,000-sq.-ft. addition began last fall and will be completed in the first half of 2008, when it will be used primarily for the manufacture of municipal street castings like manhole covers and sewer grates.

“It will replace an existing 40-year-old molding line with a new, state-of-the-art molding line,” Barrett said. “This new molding line will give us increased capacity, a broader range of capability and lower costs.”

City planner Chris Haese said the expansion includes the construction of a 100-stall parking lot, which will replace parking lost by the plant addition.

“It’s a pretty substantial project,” Haese said. “It’s almost two acres of real estate.”

No new jobs will be created by the expansion, but Barrett said that could change in the future.

“This gives us the ability to increase our output to such a level that could require additional employment,” he said.

Neenah Foundry employs more than 900 people.