Bell Lumber & Pole Company Acquires Equipment For Sidney, Nebraska, Facility
08/28/2014
A 104-year-old privately-held company whose primary business is providing and servicing the utility market with treated wooden utility poles, Bell has production and woodlands operations in nine U.S. states and Canada. Bell services utilities primarily in the North American markets, but has plans to expand its international footprint. The Bell family also owns Alamco, LLC, a wood laminating business in Albert Lea, Minnesota, serving both domestic and international markets.
As an incentive, Governor Dave Heineman awarded $605,000 in Community Development Block Grant funding to Cheyenne County to help the firm ready its new facility. The County will loan Bell Lumber & Pole Company of $600,000 to purchase machinery and equipment for its operations. Cheyenne County will apply the remaining $5,000 toward project-related administrative costs.
An additional $8.4 million in financing from Bell Lumber & Pole Company and BMO Harris Bank N.A. will complete the project. According to state officials, a key factor in the selection of Sidney, Nebraska, for its newest facility was rail access to both Burlington Northern Santa Fe and Union Pacific mainline rails, in addition to specialty trucking operations as well as its strategic location to major markets.
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