Sales surge leads firm to expand
NASHUA – Led by booming sales in its medical division, Resonetics LLC has outgrown its headquarters on Bud Way and relocated to a facility that is 50 percent larger at 44 Simon St., the company said in a news release.
According to Resonetics President Cliff Gabay, the company expects continued growth through 2012 and has reserved land on Simon Street for future expansion.
“Over the last few years, our company has executed the strategic plan to build a thriving medical device component business, culminating in moving to a new facility to accommodate the growth. We just simply ran out of room,’’ Gabay said in the release.
He said support from officials in Nashua and Merrimack, as well as the state’s Department of Resources and Economic Development, prompted the company’s decision to remain in New Hampshire.
Both Mayor Donnalee Lozeau and Gov. John Lynch applauded the decision.
“Resonetics proves that manufacturing can continue to thrive in New Hampshire,’’ the mayor said. “Cliff and the Resonetics team leverage the talent found in the Nashua area to develop and manufacture cutting-edge products that are shipped worldwide. I’m thrilled they’ve chosen to launch their next phase of growth here in Nashua.’’
The company makes and distributes laser micromachining products. It is largest provider of such products in the world, the release said.
No one at Resonetics returned phone calls from The Telegraph, seeking comment on the number of new jobs that the move might generate.
But in October, the company said the New Hampshire Community Finance Authority approved a $500,000 block grant to help with its expansion plans.
At that time, Resonetics said it expected to hire 25 new workers this year and 103 over the next five years.
The company applied for the grant through the Merrimack Town Council because Nashua is considered an “entitlement city’’ and not eligible for block grants.
Kevin Flynn, communications director of the finance authority, said 60 percent of the new jobs would benefit Greater Nashua’s low- to middle-income population.
“We tried to target out resources to make the quality of lives better for those types of individuals,’’ Flynn said at the time.