DESPITE MOVING OVERTURES
Interstate to Remain in Albert Lea, Minn.
Interstate Packaging Inc. is going to remain in Albert Lea, Minn.,
despite recent overtures to possibly move to nearby Owatonna,
the Albert Lea Tribune reports.
Interstate President Steve Tripp says the company had been
negotiating with Owatonna city officials and the owners of a building there. But last week Albert Lea officials, particularly Albert Lea
Economic Development Agency Executive Director Dan Dor-man, put together a deal that calls for Interstate Packaging to buy
the 125,000 sq ft Albert Lea building it’s currently renting for an
undisclosed amount. The ownership transfer will occur July 1.
In October, the Albert Lea City Council approved a $200,000
loan out of the city’s economic development revolving loan fund
to help Interstate Packaging pay for over $300,000 in equipment
purchases. The 3 percent interest loan, which Tripp says has
helped Interstate Packaging cut waste and downtime, will be re-paid over seven years. The box maker has about 45 employees.
FOLDING CARTON GROUP
Menasha Packaging Joins
Elite Group as a G7 Master
Menasha Packaging’s Folding Carton Group, Neenah, Wis.,
has joined an elite group of U.S. folding carton operations
that have earned the G7 Masters designation through
IDEAlliance. Menasha’s carton business is one of just
four domestic folding carton operations to have earned
this designation.
