Spectrum Astro announced today that financing for its all-new aerospace manufacturing facility, the “Factory of the Future,” is complete and construction will accelerate beginning January 13, 2003.
The final financing for the project was a $10 million completion loan provided by Bank of America and Comerica Bank to cover final construction of the building and a $2 million lease provided by CG Commercial Funding for mechanical systems.
The new facility, located two miles from the privately held company’s headquarters in Gilbert, Arizona, is dedicated to the manufacture, integration, and final assembly of high performance space and missile defense systems and will include state-of-the-art equipment that brings the total cost of the facility to over $30 million. The building is scheduled for completion by February 2004.
Joe E. Woods is the general contractor and Deutsch Associates is the architect for the facility that will provide 115,200 square feet of manufacturing and test space allowing the production of more than 20 space vehicles simultaneously.
The loans are in addition to the nearly $10 million already invested by Spectrum Astro in the immediate construction, adjacent lands, and utility infrastructure.
State-of-the-art equipment includes a thermal vacuum chamber, an acoustics chamber, shock and vibration test systems, and an Electromagnetic Interference/ Electromagnetic Compatibility (EMI/EMC) facility, all utilizing the latest data acquisition and control systems. The facility also includes modal and static load test capability and all integration and test areas are located in class 100K clean rooms.
Spectrum Astro is a privately held, rapidly growing high technology company, specializing in the design, development, integration, test, and production of high performance satellites and space-based satellite systems and subsystems for sophisticated defense, science, and commercial opportunities.
