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n _ t t 'T" U.S. 6 East P. Walkerton, Indiana 46574 4-� ,R ' Telephone (219) 586-3191 FABRICATION HEAVY BLANKING DEEP DRAWING June 28, 1972 Mr. Karl G. King, President Economic Development Commission c/o Chamber of Commerce 320 W. Jefferson Boulevard South Bend, Indiana 46601 Dear Mr. King: This letter is our formal application to your Commission to underwrite an Industrial Revenue Bond for the needed plant ex- pansion by Metalstamp, Inc. As background information, Metalstamp, Inc. is an Indiana corporation formed in April 1968 to purchase the Walkerton stamping plant of Arrowhead Engineering Corp . At that time the plant employed nine persons with annual sales of approxi- mately $400,000. Presently we are employing thirty persons and have a sales volume in excess of $1,500,000. Our company has a sound financial statement, to which our bank can attest, with a net worth in excess of $200, 000. The officers and sole owners of Metalstamp, Inc. are Robert W. Klotz, President and Treasurer, and Ernest Zeller, Vice President and Secretary. With regard to our need for a new plant, we have reached near full production capacity at our Walkerton plant and have just been awarded a large automotive stamping contract. We are proposing i to build a 13,750 square foot all--steel building on a 15-acre tract of land located on Indiana Highway 23 south of town in Greene Town- ship . We will be equipping the building with several large presses to handle heavy and high volume stamping work. There will be sufficient floor space to install several additional large presses as new jobs warrant the equipment. We plan to employ ten to fifteen new people within the first year and will have potential employment of fifty or more within a few years . Included in the employment will be skilled tool and die makers as well as general laborers . The utility needs of our plant will be minimal. We have checked with Indiana & Michigan Electric Co. and there is ample electricity in the area to handle our needs . There will be no need for water and sewage as we will be providing our own well and septic system. Police and fire protection will be provided by the now existing county authorities . The total revenue bond issue that we are requesting to finance the above project is $250, 000. Of the total amount, $130,000 will be for land and building and the balance for equipment. We