API Foils Inc., an English manufacturer of foils for the printing industry, is working on a deal to buy its building and adjacent land in East Hills Business Park.
The company -- which occupies a 42,000-square-foot plant leased from Douglas County Development Inc. (DCDI), the park's not-for-profit developer -- plans to exercise its contractual options and buy the building, its 7.72-acre site and an adjacent 5.18 acres next door.
Terms of the deal were not disclosed, but DCDI plans to buy the adjacent tract from Douglas County for $15,552, then sell it to the company for an undisclosed price.
"I have not heard what their immediate future will be," said Debi Moore, director of economic development for the Lawrence Chamber of Commerce and assistant secretary for DCDI. "but it shows a commitment to be in Douglas County for a period of time."
The company employs about 80 people at the plant, formerly owned by Astor Universal. API Foils, which has owned the plant since spring 1998, produces hot stamping foils used in the printing industry.
Douglas County commissioners will consider DCDI's request during their meeting at 9 a.m. Monday the Douglas County Courthouse, 11th and Massachusetts.
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