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Midwest Performance Converter of Gary holds Grand Re-Opening
1/4/2010
PIERRE, S.D. – Midwest Performance Converter of Gary, S.D., will retain 19 jobs in Gary and is projected to create nine more by the end of the year, officials announced today at the company’s Grand Re-Opening event.
“Now, more than ever, retaining our state’s existing jobs is of utmost importance,” said South Dakota Lt. Gov. Dennis Daugaard. “This is a company that was in danger of closing its doors, but instead has been open to change, has reorganized, and is coming out stronger in the end.”
Midwest Performance Converter manufactures torque converters and sells them to both large and small companies in a three-state area. The company, which has had a presence in Gary for 20 years, was purchased in October by Troy Vande Brake of Clear Lake and Tom and John Kenny of Minneapolis, Minn.
“I’m excited to be a part of Midwest Performance Converter’s new management,” said Troy Vande Brake, company president. “Keeping the firm open and in Gary provides employment for a significant segment of the population base. This is an exciting time for both the community and Midwest Performance Converter.”
The company’s purchase was partially financed through the Governor’s Office of Economic Development’s financing programs, specifically the Agricultural Processing and Export Loan (APEX) Program, the Revolving Economic Development & Initiative (REDI) Fund and the Workforce Development Program.
“I’m looking forward to seeing this company grow under its new leadership and am excited that Midwest Performance Converter is going to remain a corporate citizen of South Dakota,” concluded Lt. Gov. Daugaard, who was on hand for the Grand Re-Opening.
