Super Radiator Coils Invests $4 Million To Expand Minneapolis, Minnesota, Manufacturing Facility
The company’s rapid cool-down coils are critical safety related components for emergency shutdown procedures in the event a loss of cooling accident occurs inside a nuclear power plant. The large banks of coils are built with specially designed tubes and fins that quickly lower the temperature and pressure of the atmosphere in the containment building, which houses the fuel rods.
The company is one of only three manufacturers in the world that are certified by the American Society of Mechanical Engineers to meet its high quality standards for nuclear power plant equipment and to display the society’s “N-Stamp” on its coils. The company also has a 110,000 sq. ft. plant in Richmond, Virginia, and two facilities in Phoenix, Arizona, that total 65,000 sq. ft.
SRC will provide most of the funding itself for the new addition, but the company has been approved to receive a $287,500 grant from the Job Creation Fund of the Minnesota Department of Employment and Economic Development. In addition, it will receive a $150,000 loan from the Carver County Business Loan Fund.
“The Minnesota Job Creation Fund was launched just seven months ago, but it has already helped more than a dozen businesses across the state expand, creating hundreds of new jobs,” said Governor Mark Dayton. “I thank Super Radiator Coils for this important expansion, and for the up to 30 new jobs this project will create.”
The new $4 million addition will result in the new jobs being created over the next three years for highly skilled workers, according to Rob Holt, SRC’s President/CEO. The privately held company employs more than 350 people at its three facilities.
“We are delighted to be adding more Minnesota manufacturing jobs to help us build equipment for the growing nuclear power market, as well as for other commercial and industrial markets both here at home and internationally,” he continued. “Those include heat exchanger coils for food processing companies, equipment for the compressed natural gas industry, and products for the military.”
“Growth for this type of coils has exceeded our forecasts primarily due to the general economic recovery, especially in manufacturing capital equipment, and aging equipment in nuclear power plants in North America and Mexico,” Holt continued. As an example, he cited a $4.5 million contract the company received to build safety equipment for the Wolf Creek Nuclear Plant in Burlington, Kansas.
Hot Jobs: Growing Industrial Sectors
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
A Site Selector’s Checklist for Locating in the U.S.
Location USA 2019
Creative Approaches to Last Mile Distribution
33rd Annual Corporate Survey & the 15th Annual Consultants Survey
Where to Invest in the Booming Aerospace Manufacturing Industry
2019 Auto/Aero Site Guide