Conversion Technologies Inc. and its wholly owned subsidiary, Dunkirk International Glass & Ceramics Corp., have announced the sale of $8 million in bonds to finance expansion of its plant here.
The placement agency was Roosevelt & Cross Inc., which has an office in Buffalo.
The bonds will be issued in two transactions, with $5 million being sold now and $3 million in approximately six months. The bonds were issued through the Chautauqua County Industrial Development Agency.
The tax-exempt bonds will pay for two melters, two scrubbers, the expansion of preprocessing and batch facilities, renovation of the plant at 181 Stegelski Ave. and the acquisition of a fourth melter.
The company now has 82 employees and may have 100 to 115 once the expansion is completed.