In each issue, DevelopingULSTER will highlight current business activity in Ulster County.
Town of Lloyd
State-of-the-art television comes to an old apple cider plant on South Street in Highland.
Surrounded by apple orchards, Plasmaco, Inc. is developing a new generation of plasma display screens seeking to meet the demand for high-quality TVs in the home and commercial markets. While not only developing the next generation of TVs, they are also working to create an affordable product that can be mass-produced to meet growing demand.
Working with its parent corporation, Matsushita Electric Industrial Co. Ltd., Plasmaco expanded its manufacturing facility by 20,000 square feet. The expansion allows Plasmaco to set-up assembly lines to manufacture rather than buy key components of the display screens it produces. The expansion increased the plant space by about one-third to 85,000 square feet, creating an additional 30 jobs and boosting its workforce to about 100.
Excitement is back in the TV display industry. Large, flat, wall mounted display screens are the latest addition to home theatre and Internet cable TV. Now and for the foreseeable future sales are projected to grow. And the industry is growing here in Ulster County.
Support for this exciting project and the Plasmaco facility expansion was provided through a sale/lease back transaction with the Ulster County Industrial Development Agency.
Town of New Paltz
Viking Industries, Inc. is a manufacturer of corrugated board packaging products operating in Ulster County since 1973. The company has a record of consistent sustainable growth and is currently planning major investments in their plant and equipment to satisfy current and future customer needs.
They own and occupy 32,000 square feet of space on South Ohioville Road in New Paltz and currently employ 68 people. Since 1993, the company has experienced an average growth rate of 26% per year.
To meet the increased demand, Viking constructed a 17,000 square foot addition to their existing facility, purchased and installed an 88,000-gallon water tank with a diesel pump to supply water to a new sprinkler system to their entire plant. They also purchased a fully automated carton machine, an automated partition/pad cutter, an automatic scrap and bailing system, two semi-automatic partition assemblers, and a semi-automatic gluer and sample maker. Viking completed the financing for the total project through a $2,250,000 Industrial Revenue Bond (IRB) issued through the Ulster County Industrial Development Agency.
Town of Kingston
The Satus Group, LLC recently acquired M&M Prosthetic Associates (M&M), a well-established prosthetic and orthotic clinic that both fits and fabricates highly functional, custom made, life-like prosthetic devices, and employs certified practitioners to evaluate and fit patients with those devices, both in clinics and in local healthcare facilities. M&M is located on Route 28 in the Town of Kingston and has a small satellite office in Poughkeepsie. The new owners of M&M are Tom Passero, Bill Sampson, and Randy Schmitke.
Sampson and Passero are both certified prosthetists. Passero owns and operates a clinic (Prosthetic and Orthotics Associates International) in Middletown and Sampson owns and operates a 40-year old clinic (Sampson P & O Laboratory, Inc.) in Albany. Passero also owns and operates a company (Aesthetic Concerns Prosthetics, Inc.) that fabricates custom aesthetic skin coverings for prosthetic patients. Schmitke is an Ohio-based CPA, and a former Executive Director of a trade group of independent prosthetic and orthotics facilities. The new owners emphasize the importance of retaining this clinic and its seven full-time jobs in Ulster County. Additionally, they plan to add three jobs within the next three years.
The Ulster County Development Corporation (UCDC) was proud to assist the continuation and expansion of this important Ulster County business – a leader in its field of prosthetics. UCDC worked with the Satus Group to secure a $250,000 loan from the Ulster County Small Business Loan Fund to finance the acquisition and fund working capital. This financial assistance from the Ulster County Small Business Loan Fund will support the growth strategy planned by Messrs. Passero, Sampson, and Schmitke.
M&M’s new owners look forward to continuing the special care M&M has provided over the years and advancing its state-of-the-art prosthetics technology and service. The current staff at M&M has nearly 100 years of collective experience in the field of prosthetics and orthotics.
M&M Prosthetics works closely with physicians and physical/occupational therapists in clinical office settings and hospitals who work with amputees desiring rehabilitation through prosthetic restoration. Prosthetics enables individuals with physical disabilities with the ability to enjoy the rewards of personal achievement, physical fitness, and social interaction.
Town of Ulster
Magnum Provisions is a successful wholesale distributor of Boar’s Head Brand meats, cheeses and other premium delicatessen products from its Lake Katrine facility on Neighborhood Road. Magnum Provisions has operated as a wholesaler for over 24 years in the Mid-Hudson Region.
With $62,000 in financial assistance through the Ulster County Revolving Loan Fund, Magnum Provisions was able to continue with its business expansion and meet the ever-increasing local and regional demands for its products and services.
According to David I. Alfin, President of Magnum Provisions, the food preparation and food distribution industry has exhibited significant growth recently and leads most other sectors in its forecasts for future growth. Mr. Alfin was able to secure a loan that will be utilized to purchase a portion of Columbia Provisions, Inc., a Boar’s Head Brand distributor serving Columbia, Dutchess, Green and Ulster counties and create two additional full-time jobs and one part-time job for eight full-time equivalent employees.
Mr. Alfin has been an entrepreneur in the wholesale distribution business for twenty-five years, much of that time spent in fragrance and cosmetic sales. He sold his fragrance distributorship and used the profits to purchase Magnum Provisions in September 2001. Since then, Mr. Alfin has continued the success and profitability of Magnum Provisions through his hard working attitude, knowledge and experience as a distributor and his entrepreneurial spirit.
