Stonington battery maker Yardney Technical Products Inc. is moving to a renovated 140,000-square-foot building it recently bought in East Greenwich, R.I., The Associated Press reports.
Yardney President Vincent Yevoli Jr. tells The Day of New London the decision was made because the current rented facility it has occupied since 1970 is outdated and no suitable site in Connecticut could be found.
The Rhode Island Economic Development Corp. offered Yardney more than $500,000 in tax exemptions and guaranteed $5 million in bonds. All current employees will be offered jobs at the new site.
Yardney makes silver-zinc and lithium ion batteries for NASA and the military.
