La. offers $765K for ASMT plant

Louisiana has offered $765,000 in incentives to bring a new manufacturing plant, Advanced Sinter Metal Technologies, to the old Textron facility in Slidell, St. Tammany Parish economic development officials told NOLA.com. In November, the Slidell City Council OK’d a conditional-use permit for ASMT to set up in a portion of the old Textron site off Front Street. ASMT, based in Turkey, manufactures components for electronic equipment using a process called sintering, in which small metal particles are formed into shapes using intense heat. The company is leasing a 26,000-square-foot section of the Textron site in Slidell. Its venture to the region is a first in North America and becomes its U.S. headquarters. It will produce 15 jobs initially, but Slidell Mayor Greg Cromer and Chris Masingill, head of the economic development for the St. Tammany Corp. (STC), both expect that number to grow. STC has worked closely with Greater New Orleans Inc. and Louisiana Economic Development on the project, which came together it a “matter of weeks,” Masingill said. Louisiana’s incentives include $250,000 under the Economic Development Award program and $515,000 for the Quality Jobs program. STC also committed $25,000. (Source: NOLA.com 12/19/18) ASMT is a research/development firm and global supplier and manufacturer of P/M and ceramic parts serving, but not limited to, automotive, construction, work machinery, electronics, defense, and energy industries.