Corona Clipper Announces New Factory Expansion in Mexico

CORONA, Calif. – Corona Clipper yesterday announced plans to construct a new factory on the Gulf Coast of Mexico in Vera Cruz. This facility will be built alongside a manufacturing facility owned by Corona Clipper's parent corporation Corporacion Patricio Echeverria, a Spanish-owned global manufacturer of hand tools and agricultural spare parts. Corporacion Patricio Echeverria (CPE) acquired Corona in January 2000.

With the new facility, Corona will continue to provide its markets with the same high-performance products and service that customers have come to expect. CPE's Vera Cruz facility is a modern, successful company that manufactures industrial files for the Latin American and United States markets. Corona's new facility will share some of the resources already in place in Vera Cruz, ensuring a stable manufacturing environment.

The new, 80,000-square-foot facility will be completed in 2005. Corona will continue to manufacture at their 6th Street location in Corona, Calif. as well as continue to ship products to customers from both distribution centers in Corona and Louisville, Ky., where product will be consolidated from all manufacturing locations.