wiredinUSA August 2014

INDEX

MAKING THENEWS New plant in Santa Teresa

CN Wire, an affiliate of the Turkish company Er-Bakir Elektrolitik Bakir Mamulleri AS, is to establish its first North American manufacturing facility in Santa Teresa, New Mexico. The new facility will begin limited production later this year, with full operations to start in early 2015. A news release from the governor’s office stated that CN Wire will invest $42 million to purchase and renovate a building in the Santa Teresa Business Center. CN Wire will also relocate its sales and distribution operation from Connecticut to New Mexico and will be granted $537,626 in job training incentive program funds.

However, the timing of the announcement has been questioned by International Wire, which also has an operation in Santa Teresa. “The state board of finance must still decide whether the industrial revenue bonds financing CN Wire’s project and tax breaks can be issued. International Wire, as an existing New Mexico business that is a direct and substantial competitor of CN Wire Corporation, believes that it is highly premature to make this announcement before the bond financing is finalized,” the company said in a statement.

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wiredInUSA - August 2014