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South Bend Redevelopment Commission <br />Regular Meeting - July 18, 1997 <br />6. NEW BUSINESS (CONT.) <br />c. continued.... <br />particular industry; but they are the <br />largest company in their industry in a <br />single location. He felt that Steel <br />Warehouse's success and growth is due to <br />the fact that they maintained a <br />competitive edge by continuing to be on <br />the cutting edge of modernization with <br />their equipment. Their current project <br />relates to additional space that Steel <br />Warehouse hopes will be neccessary by <br />virtue of improving productivity of their <br />equipment. That determines the rate of <br />the personal property investment which <br />Steel Warehouse intends to make. <br />He stated that their largest single <br />investment which is the $600,000 <br />component of their #4 leveling machine, <br />which is a large plate line having the <br />capability of leveling and shearing light <br />plates. <br />Jerry Lerman stated that when the <br />company started this line in 1993 - `94, <br />only Steel Warehouse and one other <br />company had this capability. Presently <br />there are approximately 7 or 8 of these <br />machines. He also noted that these <br />machines are being installed at a very <br />rapid rate. To maintain a level of <br />competitiveness in this business, which is <br />growing rapidly, Steel Warehouse really <br />believes that they must improve their <br />productivity. <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\071897.MIN -12- <br />