Kaspari Investments LLC and Warren Screw Products Inc., located in Warren, Mich., will use $3 million in bond financing from the Michigan Strategic Fund to acquire land and a 140,825 square foot manufacturing facility. Kaspari Investments will renovate the facility located at 13201 Stephens Road.

The land and facility will be owned by Kaspari Investments and leased to Warren Screw Products, a manufacturer of tight tolerance screw machined and broached products.

Private activity bonds are issued to finance projects for manufacturers and certain nonprofit corporations. The MSF acts as an intermediary between a borrowing company and lending party to lessen the cost of borrowing because the interest paid to the bond buyer is exempt from federal, state and local taxes.

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