Southington, CT – February 1, 2018 – Economy Spring, a MW Industries company, plans to relocate their precision metal components manufacturing facility to a significantly larger facility in Southington, CT in early 2019. This expansion is fueled by the rapid growth for Economy Spring’s coiled springs, wire forms, and product assemblies sold to customers in medical and pharmaceutical applications. The new 216,000 square foot facility will be over twice the footprint of the existing Southington facility. Equipment will be moved in various stages during 2018 and 2019 with no expected operational impact to customers.
“Economy Spring’s growth means we need more space to meet future customer demand. By selecting a facility just a mile down the road, we expect complete retention of our committed, technical, and highly experienced workforce”, explained Tim Thompson, Senior Vice President and General Manager of Economy Spring. “Our transition plans include building finished goods inventory and communicating closely with customers to ensure a seamless transition.”
This is one of the largest manufacturing expansions in the state of Connecticut. Our ability to complete a relocation of this magnitude required a consolidated effort from many organizations.
The State of Connecticut Department of Economic and Community Development provided a $3 million loan to purchase equipment as well as relocation assistance. Working with Edward Bona from the DECD, Louis Perillo from Southington Economic Development office and Scott Bayne from Century 21 Bay-Mar Realty we identified suitable properties and obtained affordable financing for the expansion. The bi-partisan assistance from State Senators Joe Markley, Paul Doyle and Speaker of the House Joe Aresimowicz resulted in the successful in-state expansion of our company.
“MW Industries is committed to investing in Economy Spring. The products are part of a broad market basket of precision metal components designed to meet the needs of customers in medical and industrial markets”, stated John Bagnuolo, Chief Executive Officer of MW Industries. “We are proud to be expanding manufacturing in Connecticut.”
For more information, visit https://www.mw-ind.com/brands/economy-spring/ or phone (860) 621-7358.
About Economy Spring
Economy Spring, a MW Industries company, manufactures custom precision wire forms, metal stampings, compression springs, torsion springs and product assemblies. Manufacturing capabilities include coiling for compression springs, bending/winding complex parts using CNC wire forming technology, four slide components, and progressive stamping of technical metal components for the medical, industrial and aerospace industries. ISO 9001:2015 and AS9100D registered; ISO 13485:2016 compliant.
About MW Industries
MW Industries, Inc., headquartered in Rosemont, Illinois, is a leading provider of highly engineered springs, specialty fasteners, machined parts and other precision components to more than 45,000 customers in 35-plus countries. Its more than 100,000 products are sold through a combination of direct sales, catalogs and distributors to original equipment manufacturers and aftermarket customers in aerospace, medical, electronics, energy, agriculture/construction, automotive replacement, military and other sectors.
For further coverage of Economy’s expansion, read the article written by HartfordBusiness.com.