Williamsport, Pa. – A brand new firm is taking on Store-Vac Company and plans to rent staff on the Williamsport location, which abruptly closed in September 2020.
Hangzhou Tools Holdings, LLC, a subsidiary of Hangzhou GreatStar Industrial Co., Ltd., and GreatStar Instruments USA, the main producer of hand instruments in Asia, serving DIY, skilled and industrial markets worldwide, introduced right this moment it has acquired considerably the entire property of Shop-Vac Corporation.
As a part of the acquisition, GreatStar will take possession of all of Store-Vac’s firm property, open the Williamsport, Pa., manufacturing unit, and rent a variety of staff who have been separated after the manufacturing unit’s abrupt closure in September 2020.
Store-Vac is named the model chief in moist/dry vacuum techniques for shopper and industrial functions.
“We’re thrilled so as to add one other iconic American model to GreatStar’s portfolio of manufacturers – alongside Arrow Fastener, Pony, Jorgensen, Goldblatt, and Prime-Line Merchandise – notably one that offers us the chance to deliver manufacturing and jobs again to the US,” says Gary DuBoff, Group President, GreatStar Instruments USA. “Store-Vac merchandise are ‘must-have’ objects for a lot of retailers and customers in North America and world wide, and we stay up for restoring this model’s loyal following and distribution.”
After the acquisition, GreatStar plans to reestablish and broaden Store-Vac’s business management constructed on best-in-class innovation, options, worth and manufacturing potential, using a mixture of each Asian and U.S.-based manufacturing. The corporate will retain manufacturing in its Williamsport, Pa., manufacturing unit, and also will prioritize restoring Store-Vac’s distribution within the U.S., together with big-box retailers, main residence facilities and {hardware} shops, in keeping with a press launch.
Native leaders reacted to the information right this moment that native jobs and manufacturing is coming again to Williamsport.
“We’re thrilled to study that Store-Vac has been purchased by GreatStar Instruments USA. That is large information for the workers, the workforce, and our group as a complete. We stay up for working with the brand new possession within the years forward,” stated Williamsport Mayor, Derek Slaughter.
Scott Metzger, chair of the Board of the Lycoming County Commissioners stated they’re, “Ecstatic to study of GreatStar Instruments USA acquisition of Store-Vac. That is great information as Store-Vac has been a number one employer in our space for generations. The information that their intention is to proceed operations domestically is a serious increase to our spirits and economic system throughout these tough occasions. We encourage any earlier staff who haven’t discovered different employment to use. We’re positive their experience and expertise can be helpful to the brand new house owners.”
“The Chamber could be very excited to see GreatStar Instruments USA step in and purchase the Store-Vac property,” stated Jason Fink, President/CEO of the Williamsport/Lycoming Chamber of Commerce. “It’s nice to see that they are going to be including to their core competencies by this buy with injection molding, instrument and die making, and electrical, industrial and polymer engineering capabilities. This enhances the worth of these folks right here out there performing the work at Store-Vac as a result of it might probably’t be replicated elsewhere of their holdings. Given what now we have in our yard with Penn School, there’s the chance to see additional manufacturing development within the coming years. We stay up for working with Gary and the group at GreatStar in attaining the success they envision by this buy and will probably be there to help them in no matter method crucial.”
Staff at Store-Vac came upon concerning the firm’s closing on September 15. A lot of the 400 staff on the facility on Attain Highway have been laid off that day. The corporate cited monetary troubles because of the pandemic as the explanation for the abrupt closure. On the time, Store-Vac employed 1,700 folks worldwide. Store-Vac had served prospects for greater than 55 years.
Associated Studying: SHOP-VAC is closing, hundreds of employees to lose jobs
GreatStar Instruments USA is a part of Hangzhou GreatStar Industrial Co., Ltd., one of many largest hand instrument producers in Asia, specializing in designing and manufacturing high-quality merchandise for DIY, skilled and industrial markets globally.
With this acquisition, GreatStar provides the Store-Vac model to its rising portfolio of U.S. instrument manufacturers, together with Pony and Jorgensen woodworking clamps; Goldblatt concrete, drywall, masonry and tile instruments; Arrow Fastener stapling instruments, glue weapons and rivet instruments; and Prime-Line Products alternative and safety {hardware}
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