March 14, 2016 – MDI is pleased to announce today that the organization has officially purchased a 110,000 square foot facility and adjacent land in Cohasset, Minnesota. This investment is in direct support of MDI’s strategies for expanding the business and adding employment opportunities for people with and without disabilities. “We are very excited about the possibilities this facility will provide for MDI’s current and future operations. We sincerely appreciate all of the individuals and organizations that have helped make this purchase a reality for MDI”, remarked Peter McDermott, MDI President & CEO.
The Cohasset location will enable MDI to expand its polyethylene plastics manufacturing business, enter new lines of business, and provide a wonderful facility for employees and operations. MDI is pleased to start relocating the majority of its recycling operation to Cohasset in May, to significantly improve working conditions for the MDI Hired Hands part of the organization. Other jobs and business lines will be added or relocated based on business growth and operational efficiency strategies.
This project was made possible by a $1,000,000 grant from the Blandin Foundation, a $300,000 grant from the Iron Range Resources and Rehabilitation Board (IRRRB), a reduced sell price from the Terex Corporation, and MDI’s own investment from cash reserves. A ribbon cutting and open house celebration will be held in July 2016.
PRESS RELEASE – MDI PURCHASES FACILITY & LAND IN COHASSET, MN
