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| World Class Electroplating Services |
Toll Free: (800) 280-3141
Email: info@goldnickel.com
Email: info@goldnickel.com
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As most of you know, Merit Enterprises was destroyed by fire on November 28th. We
have determined that rebuilding is not feasible at this time and we are ceasing our
efforts to do so. After the fire, we had several issues to deal with:
1.) Find places for our customers to send their parts to be plated. We have been largely
successful in helping our customers find other platers (although some customers are still
struggling with issues). As always, please let us know if we can help locate another shop to
meet your finishing needs. We will always be willing to help our customers in any way that
we can.
2.) Clean up the site. The site is largely cleaned up at this point, but it will likely be some
time before it can be used again.
3.) Determine the cost and feasibility of rebuilding. We have compiled quotes for buildings,
waste water treatment equipment, tanks, plating solutions, process heating, lab
equipment, material handling equipment, floor coatings, office furniture, power supplies,
filtration, overhead hoists, dock levelers, fork trucks, air makeup units, and many other
pieces of equipment required to run a world class plating facility. We considered new
equipment, we considered used equipment (even drove to Montreal to check out some
equipment). The components we tallied up and a cost of rebuilding was determined.
Many people worked very hard in putting these numbers together, and I will be eternally
grateful for all of the help that we have received in the past year in compiling these
results.
We also benefited from a group of people that lobbied to get federal funding for bringing
water and sewer to the industrial park as well as help with the cost of the building. These
people were extremely helpful and I am also eternally grateful to them for their efforts in
getting the government to do something positive in our community.
These cost estimates, sales estimates, lending terms, operating expenses, were viewed,
analyzed, reviewed, analyzed again, and then input into accounting simulations to
determine if the venture was a viable concern. Many other factors were also considered.
The current economy, the uncertainty of the economy in the near future, the sales in the
previous years of Merit’s existence, financing terms, investor options, possible partnerships
with other plating shops, possible partnerships with customers, trusted advisors opinions,
my personal finances, etc.
Unfortunately, the results of the analysis continually came up with the same result. The
costs of rebuilding is too great to warrant the multi-million dollar investment required in
these uncertain times. (This analysis was done assuming the grants to bring sewer and
water to the industrial park and grants to help defray some of the cost of the building were
in place.) As much as I wanted the numbers to yield a positive result, I could not make
them do so. Many of these factors could not be considered without a lot of legwork, so
unfortunately, the final decision was not able to be made until this late date.
Obviously, this decision was not made in haste. Twenty seven families that depended on a
paycheck from Merit were counting on Merit rising from the ashes. Local merchants
depended on not only our direct business, but business derived from our employees living
and working here in Isle. The elected and volunteer officials in several
government/advocacy agencies were working very hard to get this going again. I am feel
like I am letting a lot of good people down by not rebuilding. However, I believe that
enough thought and analysis went into the decision making process and the decision is the
right one.
Thank you all for your efforts in this endeavor. I am once again humbled and extremely
impressed at the effort expended by others to help us. Please accept my sincere gratitude
for your efforts.
I will be investigating other employment opportunities in and outside the metal finishing
industry. If you are aware of any positions that may be a fit for myself or any of the
wonderful employees we have had over the years, please let me know as soon as possible.
We are all anxious to find ways to serve our customers, even if it is not by building a new
shop.
Once again, thank you all for your advice, support, and friendship. I am humbled and
honored to know all of you. All the best to you in the coming years.
If you would like to discuss this in person, please feel free to contact me. I can be reached
on my cell at (651) 247-6341.
Best regards,
Mike Eye
Merit Enterprises
have determined that rebuilding is not feasible at this time and we are ceasing our
efforts to do so. After the fire, we had several issues to deal with:
1.) Find places for our customers to send their parts to be plated. We have been largely
successful in helping our customers find other platers (although some customers are still
struggling with issues). As always, please let us know if we can help locate another shop to
meet your finishing needs. We will always be willing to help our customers in any way that
we can.
2.) Clean up the site. The site is largely cleaned up at this point, but it will likely be some
time before it can be used again.
3.) Determine the cost and feasibility of rebuilding. We have compiled quotes for buildings,
waste water treatment equipment, tanks, plating solutions, process heating, lab
equipment, material handling equipment, floor coatings, office furniture, power supplies,
filtration, overhead hoists, dock levelers, fork trucks, air makeup units, and many other
pieces of equipment required to run a world class plating facility. We considered new
equipment, we considered used equipment (even drove to Montreal to check out some
equipment). The components we tallied up and a cost of rebuilding was determined.
Many people worked very hard in putting these numbers together, and I will be eternally
grateful for all of the help that we have received in the past year in compiling these
results.
We also benefited from a group of people that lobbied to get federal funding for bringing
water and sewer to the industrial park as well as help with the cost of the building. These
people were extremely helpful and I am also eternally grateful to them for their efforts in
getting the government to do something positive in our community.
These cost estimates, sales estimates, lending terms, operating expenses, were viewed,
analyzed, reviewed, analyzed again, and then input into accounting simulations to
determine if the venture was a viable concern. Many other factors were also considered.
The current economy, the uncertainty of the economy in the near future, the sales in the
previous years of Merit’s existence, financing terms, investor options, possible partnerships
with other plating shops, possible partnerships with customers, trusted advisors opinions,
my personal finances, etc.
Unfortunately, the results of the analysis continually came up with the same result. The
costs of rebuilding is too great to warrant the multi-million dollar investment required in
these uncertain times. (This analysis was done assuming the grants to bring sewer and
water to the industrial park and grants to help defray some of the cost of the building were
in place.) As much as I wanted the numbers to yield a positive result, I could not make
them do so. Many of these factors could not be considered without a lot of legwork, so
unfortunately, the final decision was not able to be made until this late date.
Obviously, this decision was not made in haste. Twenty seven families that depended on a
paycheck from Merit were counting on Merit rising from the ashes. Local merchants
depended on not only our direct business, but business derived from our employees living
and working here in Isle. The elected and volunteer officials in several
government/advocacy agencies were working very hard to get this going again. I am feel
like I am letting a lot of good people down by not rebuilding. However, I believe that
enough thought and analysis went into the decision making process and the decision is the
right one.
Thank you all for your efforts in this endeavor. I am once again humbled and extremely
impressed at the effort expended by others to help us. Please accept my sincere gratitude
for your efforts.
I will be investigating other employment opportunities in and outside the metal finishing
industry. If you are aware of any positions that may be a fit for myself or any of the
wonderful employees we have had over the years, please let me know as soon as possible.
We are all anxious to find ways to serve our customers, even if it is not by building a new
shop.
Once again, thank you all for your advice, support, and friendship. I am humbled and
honored to know all of you. All the best to you in the coming years.
If you would like to discuss this in person, please feel free to contact me. I can be reached
on my cell at (651) 247-6341.
Best regards,
Mike Eye
Merit Enterprises
| We will however continue the Jig Spinner portion of our business, and we plan on expanding our product line. We will update the web site as new product becomes available. Click below for a link to the jigspinner.com website. |