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Ames Goldsmith acquired, set for expansion
Ames Electro Materials Corp. of Glens Falls has been acquired by Umicore, a Belgium-based company that specializes in materials technology. Umicore says it plans to move its existing contact materials operations from New Jersey to Glens Falls this year, and it plans to add more production capacity in Glens Falls.
Good news for the local economy
As reported in the Post Star, "There will be an increase in employment - between 25 and 50 jobs. The majority of these positions will be new and open to local residents. Of the 50 employees currently working at Ames Electro - all but one will be retained by Umicore," said Bill Hamelin, executive vice president.
Ames makes contact materials used in electrical connections. It has 65 employees and generated $8.5 million in sales in 2006. Back in 2002, Ames Goldsmith was an early beneficiary of the Empire Zone Program, which is administered by EDC. An $11M investment assisted Ames in the purchase and renovation of their current facility on Pruyn's Island.
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