9/24/2012 12:29:00 AM
HEADLINES
MacLean-Fogg Component Solutions Expanding
Courtesy Daily Tribune
MacLean-Fogg Component Solutions received a six-year tax abatement on its planned 20,700 sq ft addition and a 12-year abatement on new machinery, the Daily Tribune reports.
The expansion is expected to create 20 new jobs at its facility in Royal Oak, MI, where the company employs 120 workers to manufacture wheel nuts and bolts. The abatements will save MacLean-Fogg about $25,000 per year.
MacLean-Fogg reportedly will invest $2.5 million to expand the building and $6.3 million on machinery, equipment and fixtures.
“Two assembly machines alone will cost $1.78 million,” writes Catherine Kavanaugh of the Tribune. “The plant also will get a $1.1 million manufacturing former and a couple thread rollers at $352,000 each.”
Demand for the company’s automotive fasteners is booming, MacLean General Manager Al Fabian told the Tribune. ©2012 GlobalFastenerNews.com
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