After announcing plans to close, it now appears that Caldwell Gasket will keep operating in Auburn.

The company said it would be phasing out its Auburn operation about eight months ago, but never completely closed its doors.

Now, thanks to Lisa Howlett, the company will not be be staying in the east Logan town.

Howlett, who also owns Auburn Leather across the street from Caldwell Gasket, has been in negotiation to purchase the company and will be doing so thanks to a little help from the Logan County Industrial Development Association (IDA).

On Thursday, the Kentucky Economic Development Finance Authority Board had its regular meeting and discussed the purchase of the company by Howlett.

There is a special called meeting of the IDA today, which will deal with that agency’s portion of the deal.

IDA recently asked the Logan County Fiscal Court for $220,000 in economic development funds. The county government gave IDA the requested funds and it will in turn use the money to purchase the building that currently houses Caldwell Gasket.

IDA will then lease the building to Howlett.

According to a report filed with the Kentucky Economic Development Finance Authority, the company will have 40 full-time employees with an estimated wage range of $12 to $22 per hour.

In October when the company announced it would be shutting down, it was reported to have around 35 employees.

The project description in the report states that Caldwell Industries plans to operate a gasket manufacturing operation in Auburn. The process will include slitting, laminating and die-cutting and their primary markets will be automotive parts, lawn care equipment, plumbing fixtures and appliances.

Lisa Howlett was not available Thursday for comment.

The history of Caldwell in Auburn dates all the way back to 1879 when G.W. Caldwell began working at a small tanning business along the banks of Blue Lick Creek. Caldwell later purchased the business and it was named Caldwell Lace Leather Company.

Over the years, the business grew and in World War II Caldwell produced many leather products for the government. Their product line later evolved into making leather laces for shoes and sporting goods and finally into the die cutting of non-metallic materials. In 1985 the present owners bought the die-cutting operation and started the injection molding operation in 1987. The leather making portion of the business was closed or sold and Caldwell family members Joe Howlett and his daughter, Lisa Howlett, purchased the original Caldwell plant and created Auburn Leather Company.