Manufacturing Today - November/December 2017 - 82

Northeast Tool
www.northeasttool.us / HQ: Matthews, N.C. / Employees: 50+ / Rusty Arant, CEO: "We deliver
the predictability of our output. That means if we say we're going to do something, we do it."

Northeast

"We are constantly looking for ways
to better serve our customers with
competitive pricing and world-class
quality," Arant says. "This investment
will drastically reduce our production
times and allow for greater efficiencies in our operations."

Economic Incentive

northeast tool is investing $11
million in its charlotte facility
to retain 60 jobs and potentially
add 15 new positions.

Future Growth
northeast tool invests in new technology
and expanding its facility.

Staying ahead of the game requires
resolution and investment - especially when you're a supplier of precision-machined parts and assemblies
for the aerospace, defense, energy,
medical and commercial industries.
Matthews, N.C.-based Northeast
Tool has been staying ahead of the
game for more than 50 years. As a
general rule, the company invests
between 8 to 12 percent of its annual
gross sales to purchase highly mechanized, technology-driven manufacturing and support solutions. This
year, it's spending roughly $2.5 million on capital investments and starting on an $11 million expansion project at its facility in Charlotte, N.C.
"This drives and supports continuous improvement along many areas
of our business," CEO Rusty Arant
82

manufacturing-today.com NOVEMBER/DECEMBER 2017

says. "Northeast Tool has a long track
record of investing in the latest technology that the industry has to offer."

Investing in Technology
In August, Northeast Tool announced
its plan to spend $2.5 million on capital investments in new machine tool
technology to support additional capacity at its Charlotte facility. The
company purchased four new milling and turning machining centers to
support increased customer demand
and future growth.
The new machining centers will be
able to reach spindle speeds of 20,000
RPM and traverse speeds of up to
3,400 IPM. They feature a fully automated eight-pallet system, five-axis
simultaneous machining and touch
screen controls.

The company is spending roughly $11
million to expand its Charlotte facility and to buy new equipment. The
project will help retain 60 current
jobs and potentially create another
15 positions. The the Monroe-Union
County Economic Development
board of commissioners has approved
an incentive grant to help fund the
project. It is not to exceed $225,300.
"Union County's existing industry
outreach and assistance has been the
cornerstone of our county's success
over the last two decades," said Chris
Plate, executive director of the Monroe-Union County Economic Development, in a statement. "Our entire
program is centered on taking care of
the existing industries first. Northeast Tool's consideration of further
growth and investment is another
testament to the community's ability
to support precision manufacturing."
The three-phase expansion, scheduled to break ground within the next
12 months, will be built over a period
of five years. Northeast Tool's current
facility spans roughly 36,000 square
feet. The expansion will add about
100,000 square feet.
The expansion is necessary due to
an increasing demand for Northeast
Tool's services, Arant says. Last year,
the company made roughly $10 million in revenue. By 2020, when the
expansion is complete, it expects to
double that figure.
"Providing our customers with ontime delivery and superior quality at a


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Table of Contents for the Digital Edition of Manufacturing Today - November/December 2017

Table of Contents
Manufacturing Today - November/December 2017 - Cover1
Manufacturing Today - November/December 2017 - Cover2
Manufacturing Today - November/December 2017 - 1
Manufacturing Today - November/December 2017 - Table of Contents
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