Level 1 Fasteners buys HIC for $3.5 million, adding 30 jobs
February 21, 2011 @ 02:30 PMBRYAN CHAMBERS
Herald-Dispatch.com
HUNTINGTON — Mayor Kim Wolfe announced Monday that the Huntington Municipal Development Authority has sold the Huntington Industrial Center to Level 1 Fasteners for $3.5 million.
Level 1 Fasteners is located at 300 3rd Ave. in Huntington. The company manufactures high-performance fasteners for the U.S. Navy and its subcontractors, as well as for aerospace, aircraft, medical and oil drilling applications.
It employs about 75 people now and will begin hiring 30 more as it moves into the Huntington Industrial Center within the next four months, said Jack Bourdelais, owner of Level 1 Fasteners. The company also will spend about $1.5 million to $2 million on new equipment and building office space at its new location, he said.
The sale also takes financial pressure off of HMDA, said Tom Bell, the agency’s executive director. It will set aside $1.9 million of the purchase price to make loan payments on KineticPark, …
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