Lansdale Officials have signed off on financing that will allow Rex Heat Treat on West 8th street to expand its operation in the Borough.
The four million dollar bond is being issued by the Souderton Industrial Development Authority and will be used by the company to acquire equipment needed for a new product line. Borough Council President Denton Burnell is excited about the prospect of growth for a long time Lansdale business but says the Borough is not on the hook should Rex Heat Treat be unable to make payments on the bond.
“We’re in no way liable related to this. It’s a formality because the expansion is taking place in the Borough. The law is related to the authority itself and we have to approve that, but we hold no liability.”
Officials at Rex Heat Treat expect the expansion to eventually create about 25 new jobs.