Manufacturer buys neighboring Leominster company’s soon-to-be-closed facility for $12.4M
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101 and 107 Scott Drive in Leominster
The owners of New England Wire Products in Leominster have purchased two neighboring industrial buildings at 101 and 107 Scott Drive from Spectro Coating Corp., a flock manufacturer that stopped production in February.
The property at 101 Scott Drive was sold by HK Shah LLC of Leominster for $8.7 million and 107 Scott Drive was sold by RNP Shah LLC of Leominster for $3.7 million on April 4, according to the Worcester Northern District Registry of Deeds. The properties comprise approximately 18 acres with a 158,000-square-foot industrial building.
Spectro Coating stopped production in February. Owner Hemendra Shah told industry publication Fabrics & Furnishings International in November that he would retire partly due to a shortage of labor and materials.
The manufacturer was the last flock manufacturer in the United States, according to the article. Flocking is the process of adhering tiny fibers to a backing material to produce a soft texture.
A trust belonging to the Shah Family purchased the property in 1995 for $1.8 million.
New England Wire Products’ 215,000-square-foot headquarters is abutting the Scott Drive properties at 9 Mohawk Drive.
New England Wire Products is a third-generation family-owned business founded in 1980. It has additional locations in Kingfield, Maine and Greensboro, Georgia, according to the company’s website.
The City of Leominster assesses 101 Scott Drive for $3.1 million and 107 Scott Drive for $2.5 million.
UPDATED April 13: The company will expand its operations into the newly-acquired facility according to a press contact at the company.
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