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Missouri Metalformer Expanding Operations

Monday, June 06, 2011
 
Last week, the Detroit Tool and Metal products stamping and fabricating facility in Lebanon, MO, announced plans for a second expansion, on the heels of another expansion nearing completion. The current project, which consolidated a former facility in Iowa with the existing operation in Lebanon, brought 115 new jobs to the plant, and another 10 jobs will soon be added. The second expansion will include a 35,000-sq.-ft. addition to the 77,000-sq.-ft. plant and bring another 75 new jobs. Detroit Tool and Metal Products provides precision stamped and fabricated parts to the appliance, agriculture, consumer products, defense and other industries; www.dtmp.com.

Helicopter-Engine Maker Orders
Third Six-Axis Laser System

Friday, June 03, 2011
 
The Turbomeca facility in Tarnos, France, has ordered a six-axis laser-processing system from Prima Power Laserdyne, Champlin, MN. The Laserdyne 795XS system is Turbomeca’s third Laserdyne unit, and boasts a work envelope measuring 1 by 1 by 1 m. Also included: a 320-mm-dia. rotary worktable and a PC-based CNC. More at www.primapower.com. Learn about Turbomeca at www.turbomeca.com.

Turned A 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 a 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.

 

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