HURON – Owners of North Central Foam LLC, who have close ties to the Huron community, plan to establish their new company in the West Industrial Park by spring, according to Greater Huron Development Corporation.
The company will make various types of foam insulation that can be cut to different specifications and used in the construction industry, or with different roofing and insulation products.
North Central Foam is owned by a number of investors, including Melvin Waldner of Alexandria, S.D., and Chris Waldner of the Huron area.
They hope to have the Huron plant fully operational by April 2017. The project will cost about $3 to $4 million between the building construction and the equipment.
It will grow from 10 to 15 employees the first year to nearly 40 within the next three to four years, the Waldners said.
The management team for the local plant will include a plant manager, an engineer, a sales manager and a production supervisor.
The plant location will be at the intersection of U Avenue and Center Street in the industrial park.
There is a sister company, South Dakota Industries, currently located in Alexandria.
“We’re thrilled about being in Huron,” Melvin Waldner said. “We believe we are building a new company that has an exciting future and one that has a very good potential for growth over the next few years.
“This building site matches our vision for this company and its future perfectly,” he said.
GHDC announced that it has closed on the transaction to sell the land to North Central Foam LLC.
“We’re very happy to see this project happen in Huron,” said Jim Borszich, president and chief operating officer of GHDC as he congratulated the company.
“The ownership group has shown its commitment to this area and we are very excited to see them start their construction project in our West Industrial Park,” he said.
“We wish them the very best in this endeavor and any other opportunities the future may hold,” Borszich said.