10/11/2010 2:13:00 PM
NEWS BRIEFS
Cardinal’s Grabner Calls for National Energy Standard
A new bipartisan proposal in Congress to generate and use more renewable energy got a strong endorsement from Cardinal Fastener CEO John Grabner.
Cardinal Fastener has achieved most of its recent growth through sales to the wind energy market, where its bolts are used in turbines.
“Passage of an RES would definitely be beneficial for domestic manufacturers and the overall national employment,” Grabner told to Crain’s Cleveland Business.
“Presently, too many manufacturers are reluctant to invest in new manufacturing capacity without a clear, consistent energy policy out of Washington. Specifically, with regards to Cardinal Fastener, we would anticipate our volume increasing with a resultant increase in employment and capital expenditures from the passage of a national energy standard.”
Cardinal Fastener received international exposure when then President-Elect Barack Obama visited the company’s Bedford Heights facility during a tour enroute to his inauguration.
While those companies already serving alternative energy markets are eager to see the legislation approved, other businesses are concerned a new policy would drive up energy costs.
The current proposal, co-sponsored by U.S. Sen. Jeff Bingaman (D-N.M.) and his Republican colleague Sam Brownback of Kansas, would require the nation to derive as much as 15% of its electricity from renewable sources by 2021. ©2010 GlobalFastenerNews.com
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