Once again FIBA is planning for new growth! Due to both an increased, worldwide demand for products to support a growing alternative fuel market and our Millbury facility being at nearly full capacity, FIBA has purchased an existing manufacturing facility on a 62 acre property located in Littleton, MA, just 1½ miles from the intersection of Route 2 and Interstate 495. The building is approximately 385,000 sq. ft. under roof with parking for as many as 500 trailers. FIBA projects it will invest nearly $15 million into the overall project to manufacture seamless tubes (pressure vessels) and compressed hydrogen and natural gas (CNG) containment equipment. As previously announced, a new continuous furnace has already been ordered and is expected to be installed early next year. Manufacturing will begin before the end of the third quarter of 2013. This new factory will allow us to triple our tube manufacturing capacity. Within a year of opening we predict that 50 new employees will be added in Littleton with possibly 150 jobs being added within the first 3 years. FIBA will continue to operate its current, Millbury, MA facility, which was opened in 2004.
The town of Littleton has been very welcoming to our company and we look forward to building a strong relationship with the town and its community.