Robotic equipment manufacturer to invest $20.6 million, add 100 jobs in Sterling Heights
Automated welding system manufacturer HTI Cybernetics Inc. is investing $20.6 million to expand its Sterling Heights headquarters at a new site under development.
The company that serves automakers and suppliers expects to create 100 jobs in five years, doubling its workforce, according to the Michigan Economic Development Corp.
HTI has been approved for a $600,000 state grant through the Michigan Strategic Fund. The city of Sterling Heights is offering a 50 percent property tax abatement.
HTI will have a 15-year lease with owner Chalk Spade Investments (USA) Inc., Keppler said. It expects the building to be complete in the final quarter of 2019.
HTI, started in 1983 in Oak Park and moved to Sterling Heights in 2002. It has seen revenue grow since the end of the Great Recession, hitting $30 million in revenue in 2016 and nearly $38 million in 2017, Keppler said.
The majority of HTI’s clients are in the automotive sector — automakers and tier one suppliers. For tier one companies, it makes equipment they use to create auto parts. for automakers, it makes equipment used on the assembly line: ergonomic devices and lift assist devices, for example. Current and former clients include Detroit-based General Motors Co., Dearborn-based Ford Motor Co. and Auburn Hills-based FCA US LLC.
HTI was acquired by Chinese Chongqing Nanshang Investment (Group) Co. for nearly $50 million in October 2017, according to a report by the Global Times.
Posted By: Crain’s Detroit Business on October 31, 2018. For more information, please click here to read the source article.
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