DynaBil Industries Announces Plant Expansion and Job Growth

COXSACKIE, NY (02/04/2008)(readMedia)-- DynaBil Industries, Inc. announces plans to expand its operations at the Greene Business and Technology Park and add 120 new jobs. The deal includes entering into a long-term lease on a 33,000-square-foot new construction to be built by the Galesi Group, which is based in Rotterdam, New York.

The new 120 jobs will increase DynaBil’s workforce to 300 by the end of 2008. DynaBil has already hired a significant number of these positions to begin training for the new space.

DynaBil, which is majority owned by DeltaPoint Capital LLC and HSBC Capital (USA) Inc., is a leading supplier of complex assemblies involving formed sheet metal details serving the defense and commercial aerospace industry. DynaBil is a preferred supplier for some of the industry’s best-known names, such as Boeing, Sikorsky and Vought. DynaBil is investing a more than $6 million dollars as part of the deal that includes a planned Phase II. In the next 2-3 years this second phase will grow to add more space and more jobs.

“We are experiencing explosive growth as DynaBil has earned a position as a critical supplier on programs such as the Blackhawk Helicopter and the 787 Dreamliner Aircraft,” said DynaBil’s President, Paul J. Burton. “As we looked to expand our operations, we were impressed with the support and cooperation from state and local government to make this deal a reality in a short period of time. I would especially like to thank the great work done by the Greene County IDA, their leadership and support of this expansion is just the latest example of their tremendous efforts to make this area a wonderful place to live and work,” added Burton.

“It has been a top priority of our organization to complete an expansion deal with DynaBil to ensure its long-term presence in Greene County,” said Greene IDA Chairman Paul Slutzky. “These manufacturing jobs are valuable to our local community and the image of Greene County as a viable location for high tech and manufacturing companies.”

“DynaBil’s success story is a perfect example of how the New York State Common Retirement Fund can do well for the pension fund while doing good for New York businesses,” State Comptroller Thomas P. DiNapoli said. “Through investment partner DeltaPoint, our initial $2 million investment in DynaBil has well-served New York’s retirees and helped enable a New York business experience tremendous growth.”

The New York State Common Retirement Fund invested $2 million in DynaBil through its In-state Private Equity Program partner DeltaPoint Capital Management LLC in March 2006. The program, created in 1999, targets investment of state funds in the New York State economy. The program is designed to provide investment returns consistent with the risk of private equity while also expanding the availability of capital for New York businesses. The program aims to help generate jobs and private sector investment in the state.

This project received significant State support with a $750,000 Office of Small Cities Grant to fund the extension of road and infrastructure to the site and a $400,000 MAP grant from Empire State Development Corporation to support the expanded needs of the manufacturing operation. DynaBil will also benefit from significant assistance from the Greene County Empire Zone a vital economic development, retention and expansion tool.

The groundbreaking for the new building is expected to take place in April on a three-acre parcel in the southern portion of the Greene Business and Technology Park off of Vermilyea Lane. The road, infrastructure extension and building are expected to be complete by the end of September.

DeltaPoint Capital Management, LLC is a private equity partnership headquartered in Rochester, NY that manages a family of funds which make equity investments in privately-held and/or closely-held companies primarily located in New York State. DeltaPoint Capital invests in companies in the process of, or contemplating, a transition in ownership, including management led buyouts, generational transitions, acquisition financings, recapitalizations and growth capital. For more information go to www.deltapointcapital.com.

HSBC Capital (USA) Inc. is the U.S. private equity division of HSBC Bank N.A. With over $1 billion in capital under management, HSBC Capital invests equity and mezzanine capital in lower middle market companies led by strong, entrepreneurial management teams. HSBC Capital also invests junior capital in real estate transactions and manages a fund-of-funds portfolio. For more information, visit www.hsbcprivateequity.com.

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