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Loan secured by Punt to help company expand in Pa.

November 11, 2005

GREENCASTLE, Pa. - American Fibertech Corp., doing business as Industrial Pallet Corp., and the Franklin County Area Development Corp. will renovate a building on Carlisle Street in an expansion project that will bring in 51 jobs over the next three years, according to state Sen. Terry Punt, R-Waynesboro.

Punt secured a $466,000 loan from the Pennsylvania Industrial Development Authority to be used toward the project, the total cost of which is pegged at more than $1.5 million, according to a news release from Punt's office.

The company builds wooden pallets and has a commitment with the Staples Corp. to supply pallets for Staples' distribution center in Hagerstown, the release states.

American Fibertech has three facilities in Indiana and is expanding into Pennsylvania for the first time, according to the release.

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