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Turned Away by its Lender, Metalformer
Finds a New Funding Source

Tuesday, May 31, 2011
 
Thiel Tool & Engineering, a woman-owned metalforming company in St. Louis, MO, received $3.2 million in financing as part of the New Markets Tax Credit (NMTC) program. The federal program is designed to “spur new or increased investments into operating businesses and real estate projects located in low-income communities.” Thiel received the financing from BizCapital, the business-lending division of Advantage Capital Partners, after having been turned away by its existing lender. The metalformer recently completed a 30,000-sq.-ft. addition to its 70,000-sq.-ft. plant. It employs 50 people, and serves the automotive, transportation and construction markets; www.thieltool.com. Learn more about the NMTC program, set to expire in 2011, here.

Mazak Optonics Adds Denver Distributor

Friday, May 27, 2011
 
Laser-cutting-system manufacturer Mazak Optonics, Elgin, IL, added Action Machinery Intl., Denver, CO, to its legion of distributors. Action Machinery supplies metal-fabricating equipment and machine tools in the Rocky Mountain region and throughout northern California. It operates a 10,000-sq.-ft. technology center equipped with new and used machinery; www.action-machinery.com. Check out Mazak Optonics online at www.mazakoptonics.com.

Multiblanking Line with Corrective Leveler
Online at Windy City Service Center

Thursday, May 26, 2011
 
Alliance Steel’s service center in Bedford Park, IL, has installed a precision multiblanking line from Red Bud Industries, Red Bud, IL. The line, which includes a Herr-Voss corrective leveler, is rated for material to 72 in. wide and 0.135 in. thick, to 60,000 PSI tensile strength. The line joins the facility’s three existing slitting lines; www.alliancesteel.net.

 

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