Three Connecticut manufacturers will receive $4 million in state loans for working capital that will allow them to keep or create more than 250 jobs.
The Connecticut Development Authority issued the loans, Gov. M. Jodi Rell said today.
Volvo Aero Connecticut LLC of Newington will borrow $2 million to purchase new machinery and equipment. The manufacturer of precision aerospace engine components expects an increase in orders that will help retain and create a total of 103 positions.
Devon Precision Industries of Wolcott will get a $1.5 million direct loan for working capital. The maker of small metal components, such as firing pins for weapons and detonation devices for the military said the money retain and create 128 jobs.
L.M. Gill Welding & Manufacturing LLC, a Manchester defense supplier, is borrowing $500,000 for  machinery, equipment and working capital to complete pending orders.
LM’s specialty is in turning, milling, welding and sheet metal work for the aerospace and naval industries. It has 25 workers.
