Ventra Evart LLC, a member of the Flex-N-Gate Group of companies, has entered into an agreement to acquire the Collins & Aikman plant in Evart, Mich., which on closing would retain roughly 1,138 jobs, including about 480 directly at the Evart plant. If the closing proceeds as planned, the buyer expects to invest approximately $3 million to purchase equipment for the facility.
Based on the Michigan EDC’s recommendation, the Michigan Economic Growth Authority Board approved a state tax credit valued at more than $3.8 million over seven years to win the company’s investment. The city of Evart is prepared to support a 12-year tax abatement worth at least $9,600 to attract the project.
An economic analysis conducted by the MEDC estimates that increased economic activity created by Flex-N-Gate’s expansion will retain an additional 658 indirect Michigan jobs, in addition to the 480 directly retained by the company.
Flex-N-Gate is a growing, international and privately-held group of companies with numerous manufacturing operations in several countries. Flex-N-Gate companies have an enviable reputation in the automotive plastics and metal forming industries and have vehicle content on virtually all major automotive nameplates.
The Flex-N-Gate Group employs more than 12,000 people at 45 facilities throughout the United States, Canada, Mexico, Argentina, and Spain. Principal product lines include chassis structural assemblies, bumper and fascia systems, brackets, hinges and latch systems. Flex-N-Gate already operates six facilities in Michigan employing more than 1,000 workers.
Among other conditions, the completion of the Evart plant purchase requires that the United States Bankruptcy Court approve the purchase and if it does, the closing date would be set for a date to be determined.
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