Michelex Corp to resume operations at its New York-based plant by early 2009

New York headquartered designer and manufacturer of plastic components, Michelex Corp has pronounced the resumption of operations at its Plastics Division in Massena, New York facility by early 2009. The company makes and distributes CD and DVD packaging at its Plastics Division is expected to restart the facility with previous management. Michelex is planning to convert biodegradable plastics from the conventional plastics which it manufactured for quite some time and is further expected to add nano particles to the polymers to build products of enhanced strength and make them degradable in landfills. Michelex is reportedly expected to receive a US$4.48 mln incentives package arranged for resuming operations at Massena facility. Out of this, Empire State Development Corp has agreed to provide a US$1 mln Job Development Authority loan, subject to a pledge of 175 new jobs, purchase of property and equipment. Also, Empire Zone would provide wage and investment tax credits worth as much as US$2.63 mln.
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