Miracle Tools, a joint venture between MA Ford of Davenport and Japan-based Mitsubishi Materials, plans a $1.5 million investment to almost double production space at its industrial drill bits factory facility in Davenport, Iowa.
The firm manufactures industrial drill bits used in the aerospace, automobile, implement and other industries. Miracle Tools sells directly to MA Ford and Mitsubishi, which handles transportation, logistics and outside sales.
Construction started on a 15,000 square foot expansion to the north of the existing building, which will bring the total factory square footage to 42,000 square feet.
A combination of increased demand as the world economy continues to recover as well as the desire by many U.S.-based manufacturers to use Made in the U.S.A. products, is driving the need to expand, said Ryan DeBarr, Plant and Engineering Manager. DeBarr said the company will need to hire additional CNC operators and grinders when work is finished in late spring of 2014.