CHARTER MANUFACTURING ADDS 64 NEW JOBS
Company Acquires American Steel & Wire Facility in Cuyahoga Heights
COLUMBUS (April 29, 2002) - Governor Bob Taft today announced that Charter Manufacturing Co., Inc will acquire the former American Steel & Wire manufacturing facility in Cuyahoga Heights (Cuyahoga County). The acquisition will create 64 new, full time jobs within the first three years of operation and retain 30 positions.
"Ohio remains committed to revitalizing the steel industry by assisting companies like Charter Manufacturing with projects that will enhance the state's economic climate through job creation and retention," Taft said. "I congratulate Charter Manufacturing on the Cuyahoga Heights project and support the company's continued growth and expansion within the state."
Charter Manufacturing will purchase the assets and inventory of the former American Steel & Wire manufacturing facility. The facility was part of Birmingham Steel until June 2001 and has since been idle.
Charter Manufacturing consists of Charter Steel, Charter Wire and Milwaukee Wire. The Cleveland facility will be part of Charter Steel and will be used primarily as a steel bar rolling mill. Charter Steel is a fully integrated steel mill.
Through the Ohio Department of Development, the State of Ohio has offered Charter Manufacturing the following incentives to assist with this project:
The Ohio Tax Credit Authority today approved the Job Creation Tax Credit for Charter Manufacturing. The Business Development Grant is pending State Controlling Board approval.
Company officials have indicated that without the state's assistance, this project would not be economically viable.
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Contact: Stephanie Nelson Owen or Gail Crawley, Ohio Department of Development,
at 614-466-2609; or Joe Andrews, Governor's Office, at 614-644-0957.