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.
