Daikin invests $40.3m in new factory
2nd September 2018
USA: Daikin Applied Americas is to spend $40.3m on its new manufacturing operation in Faribault, Minnesota, it has been revealed.
The Minnesota Department of Employment and Economic Development (DEED) has revealed that it’s supporting the project, announced by Daikin in May, with a $750,000 investment loan and a $1.6m grant from its job creation fund.
According to DEED, Daikin will buy an existing 300,000ft² warehouse and renovate the building into a state-of-the-art production facility, creating 132 jobs.
Announcing the investment in May, Daikin Applied Americas vice president and general manager Will Fort said: “We have grown our operation within the city of Faribault over 50 years. In 2000, we opened the Owatonna factory, and completed a major expansion there in 2014 to triple its size,” said Fort.
The factory is expected to be brought on line in 2019.
Related stories:
Daikin Applied plans new US factory – 18 May 2018
USA: Daikin Applied, the former McQuay business, is set to expand its production capabilities with a new state-of-the-art manufacturing facility in Southern Minnesota, north of the city of Faribault. Read more…
