Marquardt Switches, Inc, a leading supplier of mechanical switch products, located in Cazenovia, will invest $6,135,000 in new machinery and equipment as well as building renovations, in order to diversify their production lines. As a result of this investment, the company intends to retain all of its 220 current employees and create 20 new full time permanent jobs in three years.
The Marquardt Company, established in 1925, remains a private, family-owned company, operating 7 plants around the world, including manufacturing facilities in Shanghai, China and Marquardt Switches, Inc. in Cazenovia.
The Cazenovia operation, established in 1981, has enjoyed success in North America, first as a supplier of mechanical switches for computers and office equipment and in the last 8 years as a leading supplier of switch products for the North American Power Tool Industry. Today, 70 percent of the Cazenovia facility’s revenue comes from the manufacture of power tool switches.
“To capitalize on emerging opportunities with the North American automobile market, Marquardt will make significant investments over the next 18 months to modify our Cazenovia operation,” said Mike Beckett, president of Marquardt Switches. “This will allow us to produce more complex electronic systems and assemblies to serve the needs of North American car makers. This is an exciting time for our employees to be working at Marquardt and be a part of the Marquardt team.”
In consideration of its contributions to New York State’s economy, Marquardt Switches, Inc. is eligible to apply for a $500,000 capital grant from Empire State Development. The funds will be used for reimbursement for a portion of the cost of new machinery and equipment. Additionally, Assemblyman Magee has secured $200,000 in funding through the Assembly to assist with this expansion as well.
“The investment we’re making in our plant and our people in Cazenovia is the result of a systematic effort to survive and grow in today’s global marketplace,” said Dr. Harald Marquardt, CEO of Marquardt worldwide.
Means the article is accessible only to our magazine subscribers.
