As the largest employer in Two Rivers prepares to shut down one of its plants, an expanding local company agrees to buy the facility and relocate.

Formrite Companies Inc announced that it has reached an agreement to purchase Thermo Fisher Scientifics’ steel cabinetry plant in Two Rivers.

Less than two months ago, Thermo Fisher Scientific, often referred to as Fisher Hamilton, announced 120 people will lose their jobs when it closes its Columbus Street plant by the end of the year.

Mr David Wage owner, president and CEO of Formrite said that the companies plan to close the sale by the end of the year and then Formrite will begin moving all of its manufacturing operations to the new plant.

Mr Wage said that he expects all manufacturing to be moved from the company's current Two Rivers location to the new plant in the next several months.

Mr Wage said "I think it's a win win for everyone. Provide some optimism moving forward that this community is going to continue to grow and thrive and flourish.”

Mr Wage says the company is expanding after securing USD 8 million deal with Caterpillar.

He says his company will hire 60 workers within the next year as his operation moves to a building five times its current size.

He said “That facility will have room for growth, and we plan on continuing our growth and acquisitions. That facility was designed for probably 1,000 or more employees, so hopefully we can continue to grow the business.”

(Sourced from The Herald Times and AP)