The company will use net profits from selling its Eagan location to invest in a revamp of the business.
Manufacturing
The company employs 145 people at the plant, which it has owned for more than a decade.
More than 70,000 people are displaced after the storm devastated the islands’ infrastructure.
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Ultra Machining Co. is working with the city of Monticello to add a new facility next to its existing operations. The project is expected to add up to 125 new jobs.
The manufacturer is selling the business as part of “ongoing portfolio management.”
This week, the company broke ground on a $35 million expansion of its Renewal by Andersen campus in Cottage Grove.
The firm has signed a seven-and-a-half-year lease for office space in the Fifth Street Towers.
The Maplewood-based manufacturer cites an “unstable environment and heightened unrest” among the reasons for the move.
The St. Paul-based company is selling the business to Georgia-based Tiarco LLC.
The Maplewood-based company expects to close on the transaction in 2019’s second half.
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The Maplewood manufacturing company announces a restructuring after a disappointing first quarter.
The company, a subsidiary of Japanese company Daikin Industries, will lease new office space in Plymouth, adding to the 132 new jobs expected to be generated by a planned $40.3 million Faribault facility project.
Not nearly enough people seek gigs in Minnesota's biggest private industry, and that's hindering business.
Approximately 312 disabled Electrolux employees are expected to lose their jobs when the appliance manufacturer’s factory closes at the end of the year.
The build-out and recent addition of 40 workers will allow the company to continue growing, said MDI president Peter McDermott.
The Minnesota-based manufacturing giant will retain M*Modal’s 750 technology-focused employees. By adding the technologies of healthcare products and service provider M*Modal to its inventory, 3M expands its health information systems business.