Friday, May 05, 2006
Parts Maker to Invest in New Machinery, Equipment
Michigan Economic Development Corporation President and CEO James C. Epolito today announced that through the Private Activity Bond Program, a $4 million allocation has been approved to help finance the expansion of Livonia Tool Inc. in Litchfield, Hillsdale County.
The bond, issued by the Michigan Strategic Fund (MSF), will enable acquisition of land and an existing approximately 50,000-square-foot manufacturing facility, rehabilitation and renovation of the facility and acquisition and installation of machinery, equipment, furniture and fixtures in the facility at 190 Simpson Drive. The real estate portion of the project will be owned by Livonia Tool Properties LLC, a Michigan limited liability corporation, and leased to Livonia Tool, a Michigan corporation, the owner of the equipment portion and operator of the entire project in the manufacture of parts for the material-handling/material conveyance industry.
The Michigan Economic Development Corporation (MEDC), a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information about the MEDC, please visit the Web site at www.michigan.org
Livonia Tool contact:Michael Rickabaugh, (888) 875-0833
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