Plastics company expanding, adding jobs

BALDWIN — Precision plastic and silicone injection molding company Nolato Contour is building a $5 million expansion to its Baldwin facility.

The 60,000-square-foot addition of warehouse and production support space is expected to result in the creation of 75 new jobs over the next three years.

The project is getting $225,000 in state income tax credits over the next three years through the Wisconsin Economic Development Corp.

“In addition to the jobs created by this project, this expansion will allow Nolato Contour to take advantage of a growing market and increased demand for its services,” Missy Hughes, secretary and CEO of WEDC, said in a news release.

The expansion will support the production of diagnostic products and vaccine/drug manufacturing components. Nolato Contour makes and supplies components and finished medical devices for major medical and pharmaceutical companies in the U.S.

State Bank of Arcadia to be acquired

ARCADIA — An Iowa-based banking group has entered into an agreement to buy State Bank of Arcadia.

TS Banking Group, which is headquartered in Treynor, Iowa, announced last week that it is acquiring the bank that serves residents of Trempealeau County in a deal expected to close in the third quarter of this year.

“We know TS Banking Group is the right partner, and our due diligence identified TS Banking Group as an organization absolute in its commitment to shared values of community leadership and strong service culture,” Kevin Manley, president and CEO for State Bank of Arcadia, said in a news release.

Manley will continue to serve as market president for Arcadia, Independence and Whitehall — where State Bank of Arcadia has offices — following the acquisition.

State Bank of Arcadia currently has banking assets of $210 million. TS Banking Group, a multi-charter bank holding company group, has a total of $1.5 billion in banking and fiduciary assets across Iowa, Illinois and North Dakota.

When the acquisition closes, State Bank of Arcadia will merge into Illinois-based First National Bank and Trust Company, which is part of the TS group.

The acquisition is pending customary closing conditions, including necessary regulatory and shareholder approvals.

From staff reports