Home / Knowledge / News / Textiles / Concordia plans $1.6 million expansion
Concordia plans $1.6 million expansion
18
Apr '08
The Rhode Island Economic Development Corporation(RIEDC)announced today that Concordia Manufacturing LLC has received a $500,000 loan from the Small Business Loan Fund to assist in its plans to expand its medical manufacturing operations.

As part of these expansion efforts, Concordia, a textile manufacturer will be leasing a 24,575 square foot facility located at 60 Commerce Drive,Warwick, RI for medical manufacturing use.

The total capital cost for this expansion is approximately $1.6 million, which includes the build out of expanded clean room space and the purchase of new manufacturing and test equipment.

“Access to these funds will play an integral role in our company's expansion efforts into the biomedical space,” stated Randal Spencer, president and CEO, Concordia..”

“It is extremely important for us to keep our competitive edge and this expansion will allow us to increase our capacity for research & development along with medical manufacturing to meet the needs of our current and future clients.”

Concordia currently employs 57 people in Rhode Island. The company plans to hire an additional 10–15 people within the next 24 months as a result of these expansion efforts.

The 88-year-old textile firm's expansion into the technical and biomedical arenas “serves as a national model within the manufacturing industry,” said Saul Kaplan, executive director, RIEDC.

“This company has embraced innovation, and their products in the biomedical field have added value to researchers and distributors of medical devices.”

“High-wage job growth, and increasing the average wage for all Rhode Islanders continues to be a core focus of the RIEDC,” Kaplan added.

“Providing access to capital for innovative company's, like Concordia, which are poised for near-term growth is an essential part of our state's economic growth strategy.

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search