Posted on 04/25/2017 7:08:13 PM PDT by 2ndDivisionVet
The Michigan Strategic Fund board approved nearly $3 million in grants for two projects expected to create 273 jobs in Auburn Hills and Port Huron by Auburn Hills-based automotive parts manufacturer US Farathane LLC.
US Farathane Port Huron LLC secured new contracts to manufacture interior and underhood components. The board awarded the manufacturer a $2.3 million grant to help with capital investments of up to about $15 million in a new leased Port Huron plant.
US Farathane plans to move its warehousing, assembly and shipping processes to the new facility and create 205 new jobs.
In Auburn Hills, USF Delta Tooling LLC, a subsidiary that supplies plastic injection molds and fixtures to the automotive industry, was awarded $600,000 to create 68 jobs as part of a capital investment of up to $14 million.
The company plans to expand by purchasing a Michigan-based tooling company, the memo said. The name of the company to be acquired was not disclosed. Delta Tooling plans to maintain the jobs and transfer some workers to other facilities that it obtains in the acquisition.
US Farathane is owned by Los Angeles-based private equity company Gores Group LLC.
CC
Never mind. International group that owns, among other things, Real Software, Hostess bakeries and the Scovill company. The plants will make auto interiors with a high percentage of post consumer (recycled) content.
CC
Gores Group is interesting. Recycled auto interiors made with plastic bottles.
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