News Column

PMG expansion moves ahead in Philipsburg

July 16, 2014

By Shawn Annarelli, Centre Daily Times (State College, Pa.)



July 16--An expansion to the Powder Metal Group Pennsylvania Corp. building in Philipsburg is on schedule.

PMG manufactures powder metal components and systems for the automobile industry.

Construction for the project began in May and is expected to be complete by Nov. 1.

"We're hopeful to have it done in October for it to be operational in November," PMG Pennsylvania President and CEO Fredi Roos said.

Roos said PMG's growing business was the reason for the 27,000-square-foot expansion into the 55,000-square-foot building. The move was made to enable additional manufacturing volume and to create storage space.

The company employs about 100 people and is expected to add 15 jobs at the plant in the next two years.

PMG is financing the $4 million expansion, though the property has been owned by the Moshannon Valley Economic Development Partnership since 2002.

The MVEDP financed the two loans through the Pennsylvania Economic Development Financing Authority and the Pennsylvania Industrial Authority and leased the property to PMG for the same amount as the loans. MVEDP Executive Director Stan LaFuria said the company may purchase the land in five years, when the two loans are paid off. Roos said the company plans to buy it.

Shawn Annarelli can be reached at 235-3928. Follow him on Twitter @shawn_annarelli.

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(c)2014 the Centre Daily Times (State College, Pa.)

Visit the Centre Daily Times (State College, Pa.) at www.centredaily.com

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Source: Centre Daily Times (State College, PA)


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