Announcement recently that Italian aeroparts manufacturer Pietro Rosa TBM was coming with the purchase of a long-standing Farmington airfoil-products maker caught many by surprise.
Announcement recently that Italian aeroparts manufacturer Pietro Rosa TBM was coming to Connecticut with the purchase of a long-standing Farmington airfoil-products maker caught many by surprise, but not the governor nor his top economic-development lieutenant.
Catherine Smith, commissioner of the state Department of Economic and Community Development (DECD) said she and Gov. Dannel P. Malloy met with Pietro Rosa officials at last June's Paris Air Show about its desire for a Connecticut presence.
“We certainly were aware that Connecticut was on their radar,'' Smith told the Hartford Business Journal last week. “ … It just takes a long time for companies to make up their minds.''
Pietro Rosa announced Feb. 19 that it was paying an undisclosed sum for New England Airfoil Products, and will remain in the firm's facilities at 36 Spring Lane.
Pietro Rosa declared it will invest more than $10 million in the Farmington facility in exchange for a $3 million low-interest DECD loan and a commitment to help the employer cement ties with local universities and technical colleges to develop its skilled workforce.
Mauro Fioretti, CEO of the Pietro Rosa group, said the acquisition offers the company greater reach and access to its existing and new North American customer base.
— Gregory Seay
