TPS Acquires Phoenix Manufacturing
TPS is investing $1.25 million to expand Phoenix operations in two facilities.
Posted: February 2, 2016
Moberly Area Economic Development Corporation (MAEDC; Moberly, MO) announced that Turn-Key Processing Solutions, LLC (TPS; Warrenville, IL) has purchased Phoenix Manufacturing Inc. (Cole Camp, MO), which currently employs 32 people and also operates a facility in Glasgow, MO. Both facilities will continue to operate under the Phoenix Manufacturing brand.
Phoenix Manufacturing is an industrial OEM/custom fabrication company with a wide range of capabilities and experience. Some of the industries served are air filtration, asphalt production, material handling, storage tanks and silos for both liquid and dry products. Their custom side serves an added number of industries as well.
In addition to the purchase of Phoenix Manufacturing, TPS plans to expand its operations in both Cole Camp and Glasgow to include over 45 new FTE jobs created over the next two years, with a capital investment of over $1,250,000. MAEDC works to promote financial investment in Randolph, Monroe and Howard Counties. According to Corey Mehaffy, the president of MAEDC, TPS was impressed with the workforce in Howard County as well as the infrastructure that is in place at the Bob Monnig Industrial Park in Glasgow to support the company’s plans for future growth.
“We are excited about this opportunity to work with TPS/Phoenix,” added Mehaffy. “This project is a great fit for the workforce in our region and we are confident that Phoenix Manufacturing will continue to be a strong partner to the community of Glasgow. TPS is a great company and we look forward to partnering with them to help them grow their investment in Glasgow in the years to come.”
Glasgow mayor Fred Foley said, “Phoenix Manufacturing has been an important part of the business community in Glasgow for ten years. We are excited to partner with the new ownership group to assist them in expanding their operations in Glasgow. The Glasgow city council was unanimous in our support of this project and we look forward to working with TPS/Phoenix to create new jobs and investment in our community.”
According to MAEDC Howard County Representative Kirk Biere, the project was a collaborative effort involving several organizations. “This project is another example of the public and private sectors working together to create investment and promote growth in our area,” stated Biere. “I would like to thank the Missouri Department of Economic Development and the City of Glasgow for their willingness to partner with us to bring this project to reality in Glasgow.”
Dave Bartel, the president and general manager of Phoenix Manufacturing, said, “We are pleased to continue and expand our role in the community. This is truly a win-win for the community at large and for us. We currently have job openings available and we will continue to add to our workforce into the future. We also offer training opportunities specific to our industry.”
www.phoenixmfginc.com, www.gototps.com
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