JAMESTOWN – The Jamestown Board of Public Utilities announced Tuesday the company will be renewing an agreement with Monofrax LLC to extent its flex rate tariff for the next three years.
BPU officials say the agreement will continue to provide lower energy costs for the company, with assurance they will re-invest in the area.
The utility’s General Manager David Leathers explained that as part of the extended contract, Monofrax will continue an investment in the Falconer manufacturing plant and will retain a minimum of 25 local jobs for every 1000 Kilowatts of demand.
BPU officials said agreement will take effect November 1 and extend through October 31, 2021.
Over half of Monofrax product output is sold outside of Chautauqua County and around 25 to 30 percent of its products are exported internationally.
Monofrax manufactures linings for furnaces that make glass products. The company has made products in its local facility for more than 65 years.
BPU officials say in addition to Monofrax, they maintain flex rate agreements with Anderson Precision, Hopes Windows, SKF Aeroengine, TitanX and Truck-Lite.