Date: March 15, 2007
Derrick Rose, Communications Officer
Office: (501) 682-5904
FOR IMMEDIATE RELEASE
Russellville Company to Expand
The Arkansas Development Finance
Authority (ADFA) Wednesday closed on a $10 million tax-exempt, variable rate
conduit revenue bond issue for Taber Extrusions, LLC, located in Russellville,
AR. The funds will be used by the aluminum extrusion company to construct a new
115,000 square foot building, make improvements to current facilities and
purchase a 4,800 ton press. The business expansion is expected to allow Taber
to increase it’s workforce by 35.
“Its great to see a solid company like Taber Extrusions expand its business,” said ADFA Vice President of Development Finance Gene Eagle. “This loan is the first to take advantage of new legislation that became effective December 31, 2006 allowing companies to increase their corporate capital expenditure to $20 million. I’m sure many more small to medium-size manufacturers will now qualify for small issue bond financing.”
Under previous federal guidelines, this project would not have qualified for financing with tax-exempt bonds which limited the aggregate amount of bond and non bond financed capital expenditures to under $10 million.
Taber utilizes today’s most advanced technologies and procedures to provide specialty aluminum extrusions used in the automotive industry, military and commercial aircraft and aerospace industry, robotic automation, military weapons systems and portable landing strip kits..
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