IA: Quatro Composites Breaks Ground on $11.8M HQ Expansion, Hiring 99
31 Oct, 2012
Aerospace products supplier Quatro CompositesTM broke ground on its $11.8 million corporate and manufacturing facility project in Orange City, Iowa.
Quatro CompositesTM, a leader in design and fabrication of advanced composite structures, was awarded a $750,000 forgivable loan and a $750,000 loan from the Iowa Economic Department Authority (IEDA). The funding assistance will support a nearly $11.8 million expansion of its corporate and manufacturing facilities and the creation of 99 new jobs in Iowa within 36 months.
Quatro is a fast-growing, advanced company that has received numerous contracts from aerospace suppliers to produce carbon composite structures for the new Boeing 787 Dreamliner airplane. “The State of Iowa has been a great resource for our continued growth in Orange City,” said Steve Roesner, President and C.O.O. of Quatro. "We are honored to be selected as one of the recipients of funding support from IEDA."
The approximately 40,000 ft expansion that will more than double the size of their current facility, and create advanced manufacturing positions in various departments. The new manufacturing space will increase current production capacities, while undertaking new business opportunities from additional commercial aerospace, unmanned aerial vehicles, and leading medical equipment manufacturers. Construction is expected to be completed in early 2013.
Quatro CompositesTM, a wholly owned business of Tec Industries, LLC, is an Iowa-based advanced manufacturer offering a full line of services from design, analysis, prototyping and production of advanced composite products. Quatro manufactures and engineers products for the aerospace, military / defense, industrial and medical markets. The business operates in two locations, Orange City, Iowa, (Headquarters, Manufacturing & Distribution) and Poway, California (Technical Development Center).