Economy Spring Plans Major Expansion in Southington, Connecticut
02/07/2018
The new 216,000 square foot facility will be over twice the footprint of the existing Southington facility. Equipment will be moved in various stages during 2018 and 2019 with no expected operational impact to customers.
This expansion is fueled by the rapid growth of Economy Spring's coiled springs, wire forms, and product assemblies sold to customers in medical and pharmaceutical applications.
"Economy Spring's growth means we need more space to meet future customer demand. By selecting a facility just a mile down the road, we expect complete retention of our committed, technical, and highly experienced workforce," explained Tim Thompson, Senior Vice President & General Manager of Economy Spring. "Our transition plans include building finished goods inventory and communicating closely with customers to ensure a seamless transition."
As an incentive, the State of Connecticut Department of Economic and Community Development provided a $3 million loan to purchase equipment as well as relocation assistance.
"MW Industries is committed to investing in Economy Spring. The products are part of a broad market basket of precision metal components designed to meet the needs of customers in medical and industrial markets," stated John Bagnuolo, Chief Executive Officer of MW Industries. "We are proud to be expanding manufacturing in Connecticut."
Project Announcements
Hanwha Advanced Materials Plans Cartersville, Georgia, Manufacturing Plant
03/27/2023
Placid Refining,Baton Rouge,Port Allen, Louisiana
03/27/2023
Toyota Boshoku Tennessee Expands Jackson, Tennessee, Metal Stamping Facility
03/27/2023
South Korea-Based Dongwha Electrolyte USA Plans Clarksville, Tennessee, Production Plant
03/24/2023
Blue Buffalo Expands Richmond, Indiana, Production Complex
03/24/2023
Schrödinger Expands New York, New York, Research Operations
03/23/2023
Most Read
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
19th Annual Consultants Survey: Clients Challenged by Tight Labor Market, Energy Availability
Q1 2023
-
The Top Investment Location Prospects for Aerospace Manufacturing
Q1 2023
-
2022 Top States for Doing Business Provide an Environment for Business Growth
Q3 2022
-
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
Q1 2022
-
How Are Economic Developers Partnering to Solve Workforce Challenges?
Q1 2023
-
Strategies to Overcome Intensifying Industrial Real Estate Challenges
Q1 2023