News

MIG purchase keeps Chattanooga plant open

Feb. 18, 2008 — Modern Industries LLC, which currently manufactures auto seating components for the North American market at its Chattanooga, Tenn., plant, was scheduled to close in 2008 if a buyer could not be found, according to its owner, Leggett and Platt, Inc. But the plant will stay open thanks to a purchase by Manufacturers Industrial Group LLC (MIG). MIG will make formed wire and tube at the plant.

The acquisition by MIG preserves 300 jobs, and the company anticipates strong future growth in Chattanooga, according to MIG CEO Andre Gist. “Our hope is to expand to this facility over the next two to five years,” says Gist. “Chattanooga is the fastest-growing metro area in Tennessee, and we look forward to growing along with the city.”

Headquartered in Lexington, Tenn., MIG is the largest business in Henderson County and the largest minority-owned business in the state. The company manufactures welded assemblies for automotive and construction uses. TVA has worked with MIG through its Valley Business Ventures program, which helps woman- and minority-owned companies succeed.

“Modern Industries is an example of how focusing on business retention yields strong benefits for the local economy,” says Trevor Hamilton, the Chattanooga Chamber’s vice president of economic development. “Growth begins with maintaining and nurturing the companies you already have.”

Gist said that he was impressed with the support for the MIG purchase from local organizations. The partners involved in the retention included EPB, the Chattanooga Area Chamber of Commerce, Southeast Industrial Development Association, Tennessee Department of Economic and Community Development, and TVA.