ELEANOR, W.Va. (AP) -- Diamond Electric Manufacturing Corp. plans to invest $6 million in its Eleanor ignition coil plant after winning a contract with Ford Motor Co.
Diamond spokesman David Bagnall says the plant will begin producing ignition coils for Ford's 2.0-liter, 4-cylinder engine and 3.5-liter, 6-cylinder engine in September 2010.
The West Virginia Economic Development Authority gave preliminary approval Thursday to a $3 million loan for the company. The West Virginia Infrastructure and Jobs Development Council is expected to consider another $3 million loan at its December meeting.
Bagnall says the loans will allow Diamond to invest in equipment needed to accommodate the Ford contract.
Up to 55 jobs could be created. The plant currently has about 120 employees.