National Wire Products will relocate equipment and technology from a plant in Yeddon, Pa., to 200 Harrison St. and expects to add 65 jobs over the next three years.
The joint announcement was made Thursday by company Vice President Tammy Snyder and Richard Alexander, administrative director of the Chautauqua County Industrial Development Agency.
National Wire acquired the assets of the former Metaltech Corp. on March 17, 2000, nine days after Metaltech abruptly ceased operations and surrendered its assets to Wells Fargo Business Corp. National Wire turned a reported $1 million loss during the first three months of 2000 into profits in five months, Snyder said. By February 2001, sales had reached $4 million. The company now has 70 employees.
The company projects reaching sales of $8 million to $9 million per year when the integration of new operations is complete.
The company makes sponge mops, barrel closure rings, broom braces and wire brush scrapers.
Snyder praised the efforts of Sally Martinez, director of the Greater Jamestown Empire Zone, Alexander and the Western New York Technology Development Center for their efforts in helping National Wire.
"At present, the closest fully automated, hard-coat metal products anodizing plants of large capacity that we're aware of are located in Boston and Indiana," Snyder said. "We're considering the location of our Industrial Metal Finishing Co. division here and would add 30 to 40 jobs above and beyond those resulting from our current expansion project."