LANSING, Mich. — Michigan Senate Majority Floor Leader Mike Kowall announced that $4.99 million in loan collateral from the Michigan Strategic Fund (MSF) has been awarded to Michigan Custom Machines (MCM) of Novi.
The money will support $10 million in bank financing that will enable the company to complete work on large-scale machinery manufacturing for vehicles featuring nine- and 10-speed transmissions.
“Michigan Custom Machines is a leader in the design and build of custom test machines for automotive and industrial component manufacturers,” said Kowall, R-White Lake. “This money is a boost for their continuing manufacturing efforts and for the city of Novi as well.”
MCM also offers customers expertise in turnkey component testing equipment for in-line and end-of-line production requirements as well as laboratory and research and development.
For more information about Michigan Custom Machines, visit www.michigancustommachines.com.
For more information about the Michigan Strategic Fund, visit www.michiganbusiness.org/michigan-strategic-fund-msf.