HOME COIL WINDING PLASTICS/MOLDING THERMOSET MATERIALS METAL STAMPING PLASTIC VALVES NEWS CONTACT US Factory Incentives Rescue Fajardo October 23rd, 2012 Translation from http://www.elnuevodia.com/incentivosrescatanfabricaenfajardo-1369136.html October 23, 2012 Factory Incentives Fajardo rescue Peter Paul Electric was about to close in 2011 By Mariana Cobián / mariana.cobian @ gfrmedia.com Fajardo – Maria Antonia Melendez takes 37 years at the company Peter Paul Electric and although the company was about to close operations last year, “I kept quiet because I was close to them.” And is that the owners of the company, the family Mangiafico, moved heaven and earth to avoid having to shut down operations at its plant in Fajardo and retain 45 jobs. Yesterday, Monday, concluded that between the Department of Labor and Industrial Developing Company Puerto Rico (Pridco) received $ 1,015,000 in incentives for operation and retention of jobs. Michael Mangiafico, president of the company dedicated to the manufacture of valves used to electrically control the flow of liquids or gases, said that after the death of his father in 2010 went through difficult times. Were offered in Connecticut, where the parent company to consolidate efforts, but they would not let their employees out of work after 40 years of operation in the Island He met last year with Governor Luis Fortuño and managed to receive aid, with the support of Mayor Anibal Melendez also and Rep. Johnny Mendez, who attended the activity. There the employees carried signs that read: “Johnny, thank you for defending your district employees”, “Mr. Governor, please protect my job”, among others. “If Governor Fortuño had not intervened and led the rescue, Peter Paul would be next to close their operations and not on track to expand our market and increase our contribution to Puerto Rico,” said Mangiafico. The Secretary of the Interior, Miguel Romero, said that when the company applied for aid in August 2011, were concerned about the need for physical facilities and incentives in order to improve operations and training to their employees. It was then that the aid given to “not have the risk of being out of Puerto Rico”. The activity also made a posthumous tribute to the deceased owner of the company, to give his name to the street next to the factory. PETER PAUL ELECTRIC CO., INC. Terms and Conditions |info@peterpaulelectric.com| Telephone:787.863.3085 | Fax:787.863.4200 | P.O. Box 427, | Puerto Real Industrial Park | Puerto Real, Puerto Rico 00740