CIPCO Supports Co-Line Welding Business Expansion
Congressman Dave Loebsack and Co-Line Welding owner, Dale Brand
FOR IMMEDIATE RELEASE
DATE: November 24, 2015
CONTACT: Cheri Popp
PHONE/EMAIL: (319) 366-4512 ext. 4357, firstname.lastname@example.org
SULLY, IA – Central Iowa Power Cooperative (CIPCO) closed on a $2 million loan with Co-Line Welding, Inc., a high tech metal fabrication business located in rural Mahaska County. The funds will be used for building expansion to meet increased demand as well as the installation of a new paint system and booth.
Co-Line owners Dale and Tana Brand opened the business as a small farm repair shop in 1979. As producers and distributors of products including Surelatch gate latches and Goalsetter® height adjustable basketball hoops, Co-Line has expanded its operations several times. Additionally, Co-Line produces parts for numerous Fortune 500 companies across the nation. The company employs 158 people.
With production lines running at near capacity, Co-Line is looking down the road at future growth, with plans to build a new 120,000 sq. ft. addition onto the company’s south building. A new paint system will be purchased and installed, several new state-of-the-art production machines, and a new 12,000 sq. ft. training facility will be built as part of the estimated $5 million three-year expansion project.
The loan was funded through USDA’s Rural Economic Development Loan and Grant program (REDL&G). CIPCO and its member cooperatives utilize these funds to promote community development and economic growth in its member systems’ service territories.