Plastics News Report
Romeo, Michigan -- Composites moulder Romeo RIM Inc. will invest $7.6 million in new equipment to expand production in Romeo for new business.
The company also expects to add 67 jobs as part of the expansion, the Michigan Economic Development Corp. said in a 14 Sept news release.
Romeo RIM has reaction injection moulding and other thermoset processing capabilities along with in-mould paint. It uses polyurethanes, dicyclopentadiene and and long fibre technology.
The company makes large parts for the auto, heavy duty trucks and agriculture industries including bumpers and body panels.
MEDC provided a nearly $700 000 tax credit to help finance the production while the local government is providing an additional tax break that will cut the company's tax bill in half for the additional equipment for 12 years.