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Troy-Based Company‘s Acquisition of LAI International’s Green Island Business Will Create 50 New Jobs

Governor Andrew M. Cuomo today announced that Ross Precision Manufacturing, an affiliate of Ross Valve ManufacturingCompany and RW Gate Company located in Troy, Rensselaer County, has acquired the Green Island operations of LAI International, formerly known as Zak, Inc. Ross Precision Manufacturing plans to invest $2.5 million to acquire the business, which will create 50 new jobs at the Tibbits Avenue facility.

“Through strategic partnerships and investments, companies like Ross Precision Manufacturing are expanding across New York State,” Governor Cuomo said. “With the jobs created through this new acquisition, this long-standing Capital Region manufacturer will continue to help drive the area’s economy forward for years to come.”

“This acquisition and expansion of Ross Precision Manufacturing is a testament to the growth of the tech industry in the Capital Region,” said Lieutenant Governor Kathy Hochul. “The investment by the manufacturing company will add 50 jobs in the area, create opportunities for residents and continue to strengthen the economy of Tech Valley and beyond.”

Ross Precision Manufacturing will invest $2.5 million to acquire the existing LAI International business in Green Island, including the machinery and equipment within the 45,000-square-foot facility, just miles away from the company’s 17-acre headquarters in Troy. This project will allow for increased manufacturing at the Green Island facility, which has been downsized in recent months, and will significantly increase sales of Ross’ traditional products, along with large specialized valves and sluice gates. The company will retain the plant’s 10 employees, with plans to create and retain another 50 jobs over the next five years, and Empire State Development has agreed to support these job creation goals with up to $800,000 in performance-based Excelsior Jobs Program tax credits.

Ross Valve, a leader in valve manufacturing, has a long history in the Capital Region. The company was founded by George Ross in Troy in 1879, inside a foundry on Oakwood Avenue that is still owned and operated by the company. Today, it’s a sixthgeneration owned-and-operated business with more than 100 collective employees, manufacturing valves and control gates for applications including municipal water and wastewater, firefighting, hydropower and district cooling.

The Green Island business began as Zak, Inc., another family-owned operation that produced large welded parts for major companies for 80 years. Zak was sold to LAI International in 2014, and the company shifted focus to certain specialty markets.

ESD President, CEO and Commissioner Howard Zemsky said, “Ross Precision Manufacturing’s expansion reflects New York State’s strategic investment and support for advanced manufacturing, creating new jobs and growing the Capital Region’s economy.”

Ross Valve Owners Bill and Andy Ross said, “The Ross family is honored and blessed to be taking ownership of the former business that was once Zak, Inc. and more recently LAI International, and appreciate all the overwhelming support from our employees, customers, community and vested partners inclusive of New York State. We are committed to its collective success and the value we can bring to the water and wastewater market, the high-alloy melting industry, industrial gas turbine market, along with general industry and the aerospace industry. Thanks to all who support Ross Precision Manufacturing.”

Senator Neil Breslin said, “Today’s announcement is a win for the Capital Region as Ross Precision Manufacturing expands across the Hudson River into Albany County and has committed to creating more advanced manufacturing jobs in the area. I offer my congratulations to the Ross family and its employees, and thank Governor Cuomo and Empire State Development for generating economic growth across the region.”

Assembly Member John T. McDonald III said, “I am pleased to see Ross Precision Manufacturing invest $2.5 million to acquire the existing LAI International business in Green Island, providing for increased manufacturing at the facility. This investment will create 50 new jobs, and retain 10 existing positions. Thank you to Empire State Development for their assistance in this effort that will boost job creation and the region’s economy and congratulations to the team in Green Island that continues to build economic success in the community.”

Green Island Mayor Ellen M. McNulty-Ryan said, “Green Island is a community that was built on manufacturing, so today’s announcement is of great news to us. Thank you to Ross Precision Manufacturing for your commitment and investment with us and to our partners from Empire State Development.”

Green Island Town Supervisor Rachel A. Perfetti said, “This project is a win for all of Green Island. Thanks to Ross Precision Manufacturing bringing jobs and business back to the area, and thanks to Governor Cuomo and ESD for supporting advanced manufacturing and helping to create jobs.” 

About Empire State Development

Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of “I LOVE NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.govand www.esd.ny.gov.

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