Low-interest loans from Pennsylvania will help a Berks County company move forward with plans to relocate and expand its operations, Gov. Tom Corbett announced Tuesday.
Reitnouer Inc., a manufacturer of bolted aluminum flatbed and raildeck trailers for trucks, will acquire and renovate a 141,000-square-foot facility in Cumru Twp., Corbett said.
The company, presently located in Muhlenberg Twp., will invest $4.5 million in the project, which is expected to create 60 new jobs and retain 250 existing employees.
"Through the support of this relocation, Reitnouer will have the resources to continue to grow and create jobs in Berks County," Corbett said.
The Pennsylvania Industrial Development Authority (PIDA) will provide a $2 million, 15-year, low-interest loan at 3.5 percent to the Greater Berks Development Fund on behalf of Reitnouer Inc. to help fund the company's relocation and expansion.
Reitnouer Inc., founded in 1982 by then 24-year-old Bud Reitnouer, introduced the first totally bolted aluminum flatbed trailer, according to the company's website.