Brown & Sharpe will relocate.
The metrology-products and -software provider and one-time machine-tool builder was founded in Providence, R.I., in 1833; just over two years ago it became a subsidiary of Swedish industrial firm Hexagon A.B. (www.brownandsharpe.com). The company's management decided it needed a more efficient manufacturing facility, and it considered moving to the Midwest. However, a deal struck with the Rhode Island Economic Development Corp. will use moral obligation bonds to build a new, 100,000-sq.-ft. plant in an industrial park near Quonset Point. The development authority will lease the facility back to. Brown & Sharpe for a ten-year period for the cost of the deb, service. The new plant, on a 14-acre parcel in the Kiefer Park section of Quonset, has a targeted occupancy date of July 2005.
Brown & Sharpe, No. Kingstown, R.I. 401-886-2000.
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|Publication:||Metalworking Insiders' Report|
|Date:||Nov 25, 2003|
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