Was this news posted yet? (COMTEX) Michelex recalling workers ( Knight-Ridder Open )
Jul 28, 2006 (Watertown Daily Times - Knight Ridder/Tribune Business News via COMTEX) -- MASSENA -- Plastic manufacturer Michelex Corp. plans to expand production and revive its payroll over the next few months.
The company restarted production and recalled some of its laid-off employees this month. Equipment to manufacture slim compact disc cases arrived in June and is expected be online in August.
"We bought some new equipment, and that's being installed right now," Michelex President Thomas Gramuglia said.
The 34-year-old company has four production lines at buildings in the Massena Industrial Park. Michelex primarily manufactures and distributes CD and DVD packaging.
"We're definitely making progress, and we hope to be back to where we were as far as employment within three to six months," Mr. Gramuglia said.
The payroll had dipped to about 20 workers before a deal was reached with Wells Fargo Bank, which filed a lawsuit in U.S. District Court seeking payment of $3 million in loans. Up to 100 worked in Michelex's six facilities as recently as a year ago. Mr. Gramuglia declined to identify current employment numbers or expectations for the future.
Wells Fargo Bank National Association, Sioux Falls, S.D., forgave $633,648.18 of a $7.5 million loan for equipment taken in 2002 by Michelex subsidiary Michele Audio Corp. of America under terms of a settlement reached in April. Michelex, 63 Trade Road, agreed to pay Wells Fargo $1,025,000 by April 20 and another $1.4 million by Aug. 31. To see more of the Watertown Daily Times, or to subscribe to the newspaper, go to http://www.wdt.net.
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