Posted 3/23/2011 02:23 pm
Updated 11 months ago
The construction "has the potential to add two hundred primary jobs to the Pine Bluff economy," according to a news release from Chris Hart, vice president of personnel and community relations.
Central Moloney, founded in 1949, makes electrical distribution transformers and related components. No start date was announced for the building, which will be on property already owned by the company but formerly leased to a livestock auction business.
"It is the intense desire of Central Moloney Inc. to remain a beacon in our industry and our community," Hart said in the release. "Even during these tough economic times and a poor housing market we have been successful in obtaining new customers, which has in turn increased our market share. By increasing our output we position ourselves for meeting the demands of an ever-changing transformer marketplace."
Central Moloney is one of the state's largest private companies. It reported $88 million in revenue in 2009.