LTI Smart Glass Planning Move to Pittsfield
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Mayor James M. Ruberto announced on Tuesday that LTI Smart Glass had entered into a purchase-and-sale agreement for the former J&L Fibers factory on Federico Drive.
Pittsfield will become the headquarters of the LTI Group and all high-level administrative, sales, engineering, and production staffing will be relocated to and expanded into the city.
"This is an exciting time of growth at LTI and we are pleased efforts set forth by the city to date. The Federico Drive property looks to be ideal for our unique manufacturing needs and we look forward to building our creative work force in Pittsfield,” said owners Jeff Besse and John Martino.
The decade-old company currently has two facilities with its main offices in Lenox. It produces glass and polycarbonate laminates for residential, commercial and industrial use, including privacy glass that can shield from eavesdropping as well as bullets. The company also offers an array of architectural and display uses.
"We are pleased to be able to convince John Martino, Jr. and Jeff Besse to consider Pittsfield for their future growth. LTI is the type of manufacturer we hope to recruit whenever we can to the Berkshires," said Bill Hines, the retired president of Interprint and a member of the board of directors of the Pittsfield Economic Development Authority. "They manufacture specialized, niche-oriented, high-end products that are not easily duplicated with 'knock offs' by foreign competition. LTI has tremendous potential for continued success, growth, and as a major employer and a positive community contributor in Pittsfield."
<L2>The old J&L Fibers building will be expanded immediately to approximately 80,000 to 90,000 square feet. The construction of the facility will be complete by the end of 2008, with a cost of more than $4 million; the equipment to be purchased and deployed in the facility is estimated at $3 million. This multimillion investment is expected to produce numerous jobs.
"LTI Smart Glass' move to Pittsfield is building on our manufacturing history and is bringing the type of cutting-edge manufacturing company we are aiming to get," said Ruberto.
Ruberto has proposed using $350,000 in GE Economic Development Funds to secure a deferred-payment, forgivable eight-year promissory note and mortgage to be placed on the property being purchased by LTI.
These monies will be spent entirely on the expansion plans in addition to hiring and training of company personnel, said the mayor's office. With a target of more than 100 jobs, and with the LTI Group's leading market position that will bring leaders from around the world to Pittsfield, the return on the city's investment in LTI is truly immeasurable, said Ruberto.
