| DynaBil Industries Announces $6 Million Expansion
of Hudson Valley Plant; Addition of 120 New Jobs
(February 4, 2008) – DynaBil Industries, Inc. plans to expand its operations at the Greene Business and Technology Park in Coxsackie, New York and add 120 new jobs at the Hudson Valley manufacturing plant. The company is investing a more than $6 million as part of the deal that includes a long-term lease on a new 33,000-square-foot new facility and a planned Phase II. In the next 2-3 years this second phase will grow to add more space and more jobs.
DynaBil, which is majority owned by DeltaPoint Capital LLC and HSBC Capital (USA) Inc., is a leading supplier of complex assemblies involving formed sheet metal details serving the defense and commercial aerospace industry. DynaBil is a preferred supplier for some of the industry’s best-known names, such as Boeing, Sikorsky and Vought.
“We are experiencing explosive growth as DynaBil has earned a position as a critical supplier on programs such as the Blackhawk Helicopter and the 787 Dreamliner Aircraft,” said DynaBil’s President, Paul J. Burton. “As we looked to expand our operations, we were impressed with the support and cooperation from state and local government to make this deal a reality in a short period of time. I would especially like to thank the great work done by the Greene County IDA. Their leadership and support of this expansion is just the latest example of their tremendous efforts to make this area a wonderful place to live and work,” added Burton.
The new 120 jobs will increase DynaBil’s workforce to 300 by the end of 2008. DynaBil has already hired a significant number of these positions to begin training for the new space.
This project received significant support from New York State with a $750,000 Office of Small Cities Grant to fund the extension of road and infrastructure to the site and a $400,000 MAP grant from Empire State Development Corporation to support the expanded needs of the manufacturing operation. DynaBil will also benefit from significant assistance from the Greene County Empire Zone.
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