BURR RIDGE, Ill. (Aug. 29)—U.S.A. Drives Inc. has put on hold the majority of an expansion, which would have doubled its size, because of the poor economic climate. The urethane belt manufacturer expanded its 14,000-sq.-ft. facility another 1,200 square feet recently but halted further growth plans until the economy turns around, according to James Schmidt, part owner and vice president of U.S.A. Drives. It had planned to add about 14,000 square feet by early 2002. The company had been moving along at a 35 percent growth rate throughout much of the first half of 2001, Schmidt said. But the market turned quickly by midyear, Schmidt said, and U.S.A. Drives found itself in a position other manufacturers have been in for more than a year. "The first six months were our best ever," he said. "But there's been a large drop off in manufacturing since then. I attribute it to the downturn in the economy."
U.S.A. Drives' expansion plans on hold
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].