Prime Tanning sold to Kentucky co.
Prime Tanning in Hartland is now under new ownership, preserving 170 jobs in the Somerset County town.
Earlier this month, Kentucky-based Tasman Industries Inc. bid $6.5 million to buy hide processor Prime Tanning, which filed for bankruptcy in November. The deal closed over the weekend, after residents voted 196-15 to modify an existing cost-sharing arrangement to fund the town's wastewater treatment facility and its landfill, according to the Morning Sentinel. Previously, the tannery had been funding 80% of the facility's $600,000 annual budget, with the town paying the rest. But voters approved lowering Tasman Industries' contribution to 70%, increasing residents' tax rate by 48 cents per $1,000 of property value.
Prior to acquiring Prime Tanning, Tasman Industries had 300 employees at facilities in the United States and Mexico, China and Taiwan. The company plans to keep the Hartland tannery's work force at its current level.
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