Custom injection molder/contract manufacturer VistaTek closed a deal on Feb. 22 to buy the two-building campus that formerly housed some of the UFE Inc. molding operations in Stillwater, MN. According to Dan Mishek, managing director for VistaTek, the site has been empty for three years and offers VistaTek an excellent opportunity to expand.
Currently, VistaTek occupies a 15,000-sq-ft building in Vadnais Heights, MN. The purchase of the UFE property will allow VistaTek to nearly triple its square footage to one that spans 56,000 sq ft, Mishek noted.
Terms of the sale were not released, however, the Stillwater City Council provided funding in the form of a $250,000 forgivable loan using tax-increment financing. To be eligible for the funding, VistaTek must employ at least 35 full-time workers at the end of each year for five years to qualify....