EMP asks for $600,000
ESCANABA — Two $300,000 loan requests from Engineered Machined Products (EMP) will go before the Escanaba Loan Administration Board next week. One of the $300,000 loans required a public hearing which took place at Thursday’s Escanaba City Council meeting. EMP will use the $600,000 in loans for working capital to catch up to the diversified market the manufacturing company is pursuing as it lessens its dependence on the declining diesel market, said Ralph Bedogne, EMP’s vice president of governmental affairs. The monies will help pay some creditors to get current with their accounts, he added, explaining the economy has not allowed EMP to stay at the level projected, mainly because their core businesses are not selling on-the-road diesel trucks. Some of EMP’s core businesses — Caterpillar, International, John Deere, Cummins and General Motors — are sending their business elsewhere, like China, or getting out of the diesel business, Bedogne said.
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