Rubberlite Planning Expansion
Aug 09 2010
Rubberlite is planning an expansion of its plant on Guyan Avenue, according to a news release from the West Virginia Department of Commerce.
During its June meeting, the West Virginia Certified Development Corporation approved two loans for Rubberlite, which makes custom foams used in shoes and a variety of industries, such as the medical industry, automotive, industrial, printing, equestrian, ergonomics, safety and aerospace
Rubberlite got a loan of $1,443,000, to finance land and building adjacent to its current facility and $915,000, to finance equipment to be used in its operations.
The West Virginia Certified Development Corporation is a public, non-profit corporation operated by the West Virginia Economic Development Authority, formed to package, close and service Small Business Administration 504 program loans.
Rubberlite expects its current total of 121 employees to increase by as many as 30 in the next two years, according to the release.
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