Manufacturing Company Awarded Loan; Creates Green Jobs in Delaware

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Governor Jack Markell and Director Alan Levin joined the partners of PTM Manufacturing, LLC today to announce the company’s plan to launch a manufacturing headquarters in Delaware as it expands its line of cost-effective green energy ducting and insulation system products nationwide.The Delaware Economic Development Office awarded PTM Manufacturing a Delaware Strategic Fund loan in the amount of $645,000. The state’s investment is expected to help PTM create 23 new green jobs in its first year and up to a total of 67 jobs within three years.

The most important thing we can do to move our economy forward is to create jobs

Governor Jack Markell and Director Alan Levin joined the partners of PTM Manufacturing, LLC today to announce the company’s plan to launch a manufacturing headquarters in Delaware as it expands its line of cost-effective green energy ducting and insulation system products nationwide.

“The most important thing we can do to move our economy forward is to create jobs,” said Governor Jack Markell. “PTM Manufacturing will help get Delawareans back to work producing products that will help their neighbors lower their energy bills. There can be a strong link between economic wealth and environmental health. Companies like PTM show that we can help our environment while growing our economy.”

The Delaware Economic Development Office awarded PTM Manufacturing a Delaware Strategic Fund loan in the amount of $645,000. The state’s investment is expected to help PTM create 23 new jobs in its first year and up to a total of 67 jobs within three years.

“It’s important to help Delaware businesses identify new opportunities, launch new products and expand into new markets,” said DEDO Director Alan Levin. “The state’s investment in PTM Manufacturing will create green jobs, while enhancing our long-term economic and environmental sustainability.”

PTM was founded in 1998 for the development of HVAC energy efficient technologies and as a fabrication division of Eastern Industrial Services, Inc., based in Newark, Del. PTM distributes its HVAC product lines, Techna-Duc® and KoolDuct® regionally to provide energy efficient technology to lower costs and reduce energy consumption. Techna-Duc® is PTM’s patented insulation system for exterior ducting. It forms a shield against the environment that eliminates sweating and material breakdown, and has proven to reduce energy consumption by 25 percent.

The company is owned by three members who are the inventors of the Techna-Duc® insulation system: Pete Faverio, Mike Zimny and Tim Shelton. PTM’s expansion will begin by establishing a new corporate headquarters in Delaware for all operations. Over the next three years, eight additional manufacturing and distribution facilities will be added throughout the United States.

“We are proud of all the people that have helped us get to this point,” said Pete Faverio, president of PTM Manufacturing. “As we expand, we will stay committed to the energy efficient products we produce and so believe in.”

Please visit http://www.ptmmanufacturing.com to learn more about the company. To apply for a job with PTM Manufacturing, interested candidates may send an e-mail inquiry to mhartman (at) ptmmanufacturing (dot) com.

About the Delaware Economic Development Office
The Delaware Economic Development Office is an executive state agency responsible for attracting new investors and businesses to the state, promoting the expansion of existing industry, assisting small and minority-owned businesses, promoting and developing tourism and creating new and improved employment opportunities for all citizens of the State. DEDO is a Certified Economic Development Organization, accredited by the International Economic Development Council. Visit dedo.delaware.gov.

Contact:
Nikki Boone, Communications Manager
Delaware Economic Development Office
nikki.boone (at) state.de (dot) us
302-672-6857

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