01/21/2020 | Press release | Distributed by Public on 01/21/2020 09:08
MI Americas said the investment in the Alabama production complex may eventually reach $50 million as it expands product lines.
'It's welcome news that Medical Industries of the Americas has selected Alabama for its strategic growth plans,' Governor Ivey said. 'The company's project will not only create a significant number of jobs in Eufaula but also provide an economic boost for the entire region.
'We've worked hard to create an environment where businesses can thrive, and this is another indicator that we are succeeding.'
MI Americas plans to return the plant to full operation in stages, eventually operating three shifts a day, five days a week.
Products it will manufacture at the 105,000‐square‐foot, 15‐acre site in the Eufaula Industrial Park include latex gloves for use in a variety of fields, including the medical and agricultural industries, as well as other healthcare items like hot/cold packs and non‐allergenic natural latex condoms.
'We are excited about the positive impact this will have on the local and regional economies,' MI Americas CEO David Silver said.
'Not only is this a great leap forward for the community, but by re‐starting production we see this as a symbolic gesture throughout the state and nation that there's still a strong market for American‐made goods.'
MI Americas said the facility will have the capacity to produce some 500,000 latex gloves daily. As it prepares for the production launch, the company is simultaneously pursuing efforts to expand its manufacturing capacity and product offerings.
It plans to also seek opportunities for financing such growth through new sources of revenue and potential outside investment.
'We're committed to helping create career opportunities for residents of Alabama's rural counties through economic development,' said Greg Canfield, secretary of the Alabama Department of Commerce.
'By spurring job growth, this rural venture will lift families in Eufaula and set the community on course for more positive developments.'
Mayor Jack R. Tibbs Jr. said MI Americas' substantial financial commitment to resuscitate and reopen the latex plant represents a game-changing economic development for the Southeast Alabama city.
'We are excited about Medical Industries of the Americas coming to our great city. We look forward to a wonderful partnership and to the much-needed jobs they will provide our residents in Eufaula, Barbour County and the surrounding area,' he said.
'We appreciate Governor Kay Ivey and Secretary of Commerce Greg Canfield for their help in bringing this project to fruition.'