FOR IMMEDIATE RELEASE: Monday, August 30, 2004

CONTACT: Mary Lehecka Nelson, 773-3301 

Masaba Inc. to Relocate to Vermillion

Pierre, S.D. – Masaba Inc., a manufacturer of mining equipment, is relocating its operation from Akron, Iowa to Vermillion, S.D., a move which will create up to 50 jobs, Jim Hagen, Secretary of the Department of Tourism and State Development, announced today, August 30.

“The availability of a labor market was a key issue for this company,” Hagen said. “The communities in the southeast part of the state pulled together to show Masaba that South Dakota has the people it needs,” Hagen said.

The company plans to construct a 70,000 square foot facility in the Vermillion Industrial Park. “Masaba is a solid company with a long-standing history of success. We are honored that it chose South Dakota for future growth,” Hagen said.

The state has been working closely with the company to put together a financial package. The state has proposed a comprehensive package and will continue to work with the company to meet its needs. “The state and the city of Vermillion are putting together a financial package for this company that will help it get its South Dakota operation up and running as quickly as possible,” Hagen said.

Lisa Ketcham, executive director of the Vermillion Area Chamber of Commerce & Development Company is pleased that Masaba Mining Equipment has made a decision to relocate to Vermillion.  “We are excited to welcome Masaba to our community, and we look forward to a great partnership with Masaba,” she said.

“Masaba would like to thank Governor Rounds and all those involved at the state and the city of Vermillion for their commitment and efforts to make this project possible,” said Jerad Higman, president, Masaba, Inc.

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