State Investments Help ILSCO to Reopen Idled Plant, Create more than 50 Jobs in Mercer County

Oct 21, 2010, 15:52 ET from Pennsylvania Department of Community & Economic Development

HARRISBURG, Pa., Oct. 21 /PRNewswire-USNewswire/ -- State investments will help to put an idled aluminum extrusion facility back into productive use and create more than 50 new jobs in Mercer County, Department of Community and Economic Development Secretary Austin Burke announced today.

ILSCO Extrusions, which purchased the former Signature Aluminum plant in Greenville in June, is reopening the facility and is in the process of re-starting manufacturing operations there. The manufacturing facility had been closed since April 2009.

ILSCO's $4.9 million project will create at least 52 jobs.  

"This project is good news for Pennsylvania, good news for ILSCO, and great news for the hardworking men and women of Mercer County," said Burke. "The fact that ILSCO chose to purchase this facility and create new manufacturing jobs in Greenville demonstrates both the skill level of the area's workforce and the effectiveness of the state's economic development efforts."

ILSCO, which had been one of Signature Aluminum's largest customers, will produce aluminum extrusions that will be used to supply the company's other manufacturing operations.

Established in 1894 as the Incandescent Light and Stove Co., ILSCO is the largest direct supplier of mechanical connectors to original equipment manufacturers in the United States and Canada. The company supplies connectors, tools and accessories to the commercial and industrial construction market, as well as for maintenance and repair.  

"ILSCO is very excited about launching ILSCO Extrusions Inc.  It is very rare that an idled manufacturing facility is brought back to life, and we're proud to do it in such a wonderful community," said Andrew Quinn, ILSCO president. "After three intense months of work, the Greenville facility is running again and is producing high quality aluminum extrusion. It could not have been done without the hard work of the management team and production employees, all former employees of the facility, who have worked tirelessly to reopen the factory.

"The assistance offered by the Governor and Pennsylvania helped absorb critical parts of the start-up costs to insure a quick and successful launch," Quinn said.

The project was coordinated by the Governor's Action Team, economic development professionals who work directly with businesses that are considering locating or expanding in the state.

The Penn-Northwest Development Corp. helped the company obtain a $1.3 million funding offer for the project from the Department of Community and Economic Development. The offer includes a $50,000 opportunity grant, a $1.27 million loan from the Pennsylvania Industrial Development Authority, and $23,400 in job training assistance.

"This project had many challenges, including the acquisition of a facility in the Chapter 7 bankruptcy process with an out-of-state trustee," said Larry Reichard, Penn-Northwest Development Corp. executive director. "After all the time and work, we are thrilled to have ILSCO as part of the Greenville community."

Since Governor Edward G. Rendell took office in 2003, GAT has successfully completed 1,188 projects, resulting in commitments to create 128,893 new jobs and retain 302,144 existing positions. The commonwealth has offered more than $2.2 billion in assistance for these projects, which will leverage more than $16 billion in additional investment.

For more information on ILSCO Corp., visit www.ILSCO.com.

For more information on the Governor's Action Team and other Department of Community and Economic Development programs, visit www.NewPA.com or call 1-866-466-3972.

Media contact: Luke Webber, 717-783-1132

SOURCE Pennsylvania Department of Community & Economic Development



RELATED LINKS

http://www.state.pa.us


http://www.ILSCO.com


http://www.NewPA.com