Boston – MassDevelopment has issued a $2.8 million tax-exempt bond on behalf of The duMONT Company and Hassay Savage Company, western Massachusetts-based manufacturers of precision broaching tools, and HYE Partners, LLC, a real estate entity affiliated with the two companies.
HYE Partners will use bond proceeds to buy 2.87 acres of vacant land in Deerfield, located at the site of the former Oxford Pickle plant, and construct an approximately 24,400sf manufacturing facility.
The duMONT Company and Hassay Savage Company, which recently merged into one company, will move into the facility and use bond proceeds to buy and install new manufacturing equipment.
Shelburne Securities Corporation, a subsidiary of Greenfield Savings Bank, purchased the bond.
