Published July 19 2011
Casselton-based heavy equipment manufacturer building new factory
The company makes and distributes attachments for skid steers and telehandlers. Owner Marv Haugen said the business ran out of space at its current location.
The new facility will be located in the Heartland Industrial Park at the intersection of Interstate 94 and Highway 18. Haugen said he plans to break ground next week and complete the project by the end of the year.
The company got help financing the expansion from the Growth Initiative Fund of the Greater Fargo-Moorhead Economic Development Corporation, a loan fund for targeted business development.
The EDC in tandem with First State Bank of Casselton and the Bank of North Dakota helped drive down the interest rate for the company’s loan.
Haugen said the company was an attractive fit for such financing because it’s a boon to the local economy: 90 percent of the materials it purchases come from within North Dakota, he said, and 95 percent of its sales are outside the state.
The company has nine full-time and two part-time employees. Haugen said the expansion may add “one or two jobs.”
The company sells its products to equipment companies like RDO Equipment and Titan Machinery. Haugen said the expansion was driven by demand that was far outpacing the company’s ability to manufacture its products.