Cattron-Theimeg Eyes Moving to Warren
YOUNGSTOWN, Ohio -- Sharpsville, Pa.-based Cattron-Theimeg Inc., a subsidiary of Laird Technologies, is considering whether to move its global headquarters and manufacturing operations to Warren, a state agency announced today.
The Ohio Tax Credit Authority approved a 55%, nine-year job creation tax credit for the company Monday. The project is expected to create 55 full-time jobs and $3 million in payroll in addition to the company's $9.5 million payroll, the authority reported.
Cattron-Theimeg is also considering sites in Pennsylvania for the project, the report noted.
As part of the Ohio tax credit agreement, the state requires that the company maintain operations at the site for the next twelve years. A precise site for the project was not identified, other than that the proposed location is an existing building in the city of Warren.
The proposed project would expand Cattron's operational capacity, and its fixed-asset investment would entail the acquisition of the building, on-site infrastructure improvements, and new machinery and equipment.
Cattron-Theimeg is a major manufacturer of remote control products and aftermarket services for the mining, commercial, mobile, railarod and other industrial markets.
Cattron-Theimeg also has offices in Canada, China, Brazil and Germany.
James Cattron founded the company in Sharpsville in 1946 as a service provider for Motorola products. Since then, the company has diversified into remote control applications for other industries.
In 2010, Cattron was purchased by British-based conglomerate Laird PLC as part of its technologies division.
Cattron-Theimeg was one of 13 companies approved for tax credits before the commission Monday. Together, these projects account for $319.6 million of new investment and impact 3,000 jobs.
Copyright 2014 The Business Journal, Youngstown, Ohio.
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