PTM Manufacturing LLC, a manufacturer of energy efficient ducting and insulation systems and products, will expand its operations in Delaware, according to the Wilmington News Journal. The company, which currently operates a manufacturing plant in Newark, plans to establish a new corporate headquarters somewhere in New Castle County and expand its manufacturing operations to include a second production line. At least 23 new jobs are expected over the next year, with 67 additional jobs coming over the following two years. "We are proud of all the people that have helped us get to this point," says Pete Faverio, a company co-owner, in a statement from the Delaware governor's office. "As we expand, we will stay committed to the energy efficient products we produce and so believe in." Faverio and co-owners Mike Zimny and Tim Shelton are the inventors of the Techna-Duc exterior ducting insulation system. The state will provide PTM a loan of $645,000 for job creation.
