FOR IMMEDIATE RELEASE
February 25, 2008

Columbus, OH -- Lieutenant Governor Lee Fisher today announced that $330,000 in economic development and roadwork development grants have been awarded to aid in the growth of businesses and the creation and retention of jobs in Ohio. The grants, administered by the Ohio Department of Development, were approved today by the State Controlling Board and are expected to create 205 positions and retain 1,260 jobs for Ohioans.

"These projects demonstrate Ohio's broad appeal to expanding businesses: Anchor Hocking was founded in Ohio more than 100 years ago, Miba Bearings is already operating in Morgan County, and Speed North America is establishing a new operation in Wooster," said Lt. Governor Fisher, who also serves as Director of the Ohio Department of Development. "Ohio offers many outstanding assets for growing companies and we continue our strong commitment to our existing economic partners while pursuing new opportunities."

Anchor Hocking Company, located in Lancaster (Fairfield County), will receive a $250,000 Rapid Outreach Grant for costs associated with the acquisition of machinery and equipment to support the company's expansion. The Anchor Hocking Company was founded in 1905 in Lancaster and is a leading designer, manufacturer, and marketer of glass tableware to consumers, foodservices, and commercial industries. The company is a wholly owned subsidiary of Monomoy Capital Partners, which purchased Anchor in April 2007. The company faces intense competition for its glass products as manufacturing companies continue to move operations out of the country. The company proposes to operate a new stemware product line as well as update from single gob to double gob glass production and from pneumatic (operated by compressed air) to hydraulic (operated by liquid) production. The machinery and equipment to be purchased includes glass furnaces, laser cutters, stretching machines, sealing machines, rotary machines, conveyers, and related equipment. Ohio is in competition with Pennsylvania for this $9 million project, which is expected to create 125 jobs and retain 1,000 positions within the first three years of the project's initial operations.

Miba Bearings US, LLC (Miba), located in McConnelsville (Morgan County), will receive a $30,000 Rapid Outreach Grant for costs associated with the acquisition of machinery and equipment to support the company's expansion. Miba is a subsidiary of Miba AG, a global strategic supplier of components in the automotive, truck, marine, locomotive, compressor, and industrial equipment markets. Miba AG's three primary product groups provide bearings, sintered metal components, and friction products. Miba AG employs 2,800 people worldwide, including 290 in the United States. Miba proposes to expand at its current facility for additional space that will allow for the manufacture of bearings for new customers in the heavy duty truck bearings market. The machinery and equipment to be purchased includes de-coilers, presses, handling equipment, automated machining systems, degreasing machines, ovens, and related equipment. Ohio is in competition with Austria, China, and Michigan for this $9 million project, which is expected to create 30 jobs and retain 260 positions within the first three years of the project's initial operations.

Speed North America Inc. (Speed), to be located in Wooster (Wayne County), will receive a $50,000 Rapid Outreach Grant for costs associated with the acquisition of machinery and equipment to support the company's new facility. Speed North America's parent company, Speed France, specializes in the conversion of polyamide and co-polyamide materials into high-quality monofilaments for a variety of applications, and employs 180 people worldwide. These filaments are used in garden and edge trimmers, fishing lines, packaging, cables, and ropes. Speed focuses primarily on the growing market in North America of garden and edge trimmers. The company proposes to relocate its existing operations to a 60,000 square-foot facility in Wooster to provide better access to its U.S.-based customers. The new machinery and equipment to be purchased includes extrusion lines, donut winding and labeling machines, injection molding presses, transformers, grinding machines, and related equipment. Ohio is in competition with North Carolina for this $4.2 million project, which is expected to create 50 positions within the first three years of the project's initial operations.

The Rapid Outreach Grant (412) is a grant program to assist companies and communities that are creating or retaining jobs in Ohio.

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Media contacts: Melissa Ament at (614) 466-6619 or Kelly Schlissberg at (614) 466-4133