Dunkirk Metal Products gets loan for new laser cutter

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Dunkirk Metal Products was approved of a $280,000 loan by the county IDA to purchase a new Tube Laser Cutting System.

A north county business has been awarded a loan from the Chautauqua County Industrial Development Agency to buy new equipment, which is expected to help the business be more cost effective and grow.

During Tuesday’s county IDA meeting, it was announced that Dunkirk Metal Products of WNY is seeking a $280,000 loan to purchase a Tube Laser Cutting System. The company is located in the Chadwick Bay Industrial Park in Sheridan.

County IDA officials said the new equipment will help Dunkirk Metal Products retain 36 jobs and create two new positions.

“We’ve assessed the local marketplace and feel the new equipment will provide an excellent opportunity for cost savings and business growth,” said Jean Gaulin, chief financial officer with Dunkirk Metal Products. “Establishing and growing this segment of the business will be a primary focus over the next three years and beyond.”

Kristine Morabito with the county IDA said company officials are also in the process of getting a loan from Cattaraugus County Bank and are also putting up 10% of their own money.

After the presentation, the IDA Board of Directors unanimously approved the loan.

Mark Geise, deputy county executive for economic development and chief executive officer of the county IDA, expressed his support. “Dunkirk Metal Products has proven to be a valuable employer for dozens of workers in the north county and this loan from the IDA will help ensure it remains that way in the coming years,” he said.