Wire and cable manufacturer Lake Cable plans to invest $7 million to expand its Valparaiso plant.

Per a report in the Times of Northwest Indiana, Lake Cable, a privately held wire and cable manufacturing that employs 450 workers at five plants, including three in Indiana, plans to add 82,000 sq ft to its 126,000-sq-ft plant in Valparaiso. Construction is scheduled to be completed in 2020.

"Fourteen years after expanding into Valparaiso, we are excited and optimistic about the way our business is growing and developing," Lake Cable President Emile Tohme said in the report. The business was founded by Bill Runzel IV in the 1990s on the west side of Chicago with just three wire-making machines and a total of four people.

Today, Lake Cable manufactures a variety of cables for the utility, renewable energy, commercial construction, petrochemical, transit, HVAC, fire alarm, building management system, steel, and industrial sectors. Once the expansion is done, plans call for up to 54 new workers to be hired.