Apache studying $7.5 million expansion

A 51-year-old employee owned southwest Cedar Rapids business is considering a $7.5 million physical expansion that would retain nearly 30 jobs and create 15 positions.

The Cedar Rapids City Council will consider sponsoring a state financial assistance application for Apache Inc. to add 90,000 square feet of production space to its plant and headquarters at 4805 Bowling St. SW.

Financial assistance primarily will come in the form of tax increment financing.

Formerly known as Apache Hose and Belting, the company fabricates and distributes hose, belting, cut and molded rubber and industrial consumer products. Apache products are sold across many industries, including agriculture, recycling, mining, hydro, food, and chemical.

Apache employs 315 people, including 139 in Cedar Rapids. Founded in 1963 in Cedar Rapids, the company changed its ownership structure in 1985 to an employee stock ownership plan.

'This is a tremendously exciting time for Apache,” said Tom Pientok, Apache president and CEO. 'Our team has executed a strategy over the past six to eight years that has put us in a position to make this expansion necessary.”

The Cedar Rapids Metro Economic Alliance assisted in preparation of a state application that will be sent to the Iowa Economic Development Authority.

'Apache is a strong community partner and we are happy to assist in advancing their growth goals and the new jobs that it will bring to the Corridor,” said Dee Baird, president and CEO of the Metro Economic Alliance.

Apache has acquired five companies within the last six years. Apache, with annual sales of about $100 million, concentrates its sales efforts on distributors, dealers, and original-equipment-manufacturing customers.