Loan to help company expand in Nebraska

A loan of more than $1 million in federal recovery funds will be used by Nebraska to help Neapco Components expand production in Beatrice.

The company is owned by Pennsylvania-based Neapco Holdings, LLC.  In March, Neapco said it would consolidate its manufacturing of drive shafts and drive-shaft components to Beatrice, ending production in Pottstown.

The Nebraska Department of Economic Development says Neapco also plans to add $2.5 million of its own money to build more space at its Beatrice facility and move manufacturing machinery there from Pottstown. The company said in March that the changes would bring the Beatrice payroll to 190-210 from the current 120.