Purchase of Minnesota Rubber building complete

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Farm Forum

The purchase of the former Minnesota Rubber Co. facility in Watertown by Ritalka Inc. and its subsidiary SpecSys has been finalized, according to the a press release issued by the Watertown Development Co.

The Public Opinion reported on the purchase agreement signing in October 2014.

Based in Montevideo, Minn., the company has more than 225 employees in seven locations. SpecSys serves clients in the construction, agriculture, railroad, mining, utilities, power generation, aviation, and oil and energy industries.

Company CEO Kevin Wald told the Public Opinion in October he hopes to begin production in March and be going full-swing by mid-year. Initially, the new Watertown location should create about 20 to 30 jobs – although the building has room for more, he said.

The company builds large projects, such as full railroad cars and mining equipment that takes 11 semi trucks to ship, so it needs plenty of space.

In November 2013, Minnesota Rubber announced it was closing the Watertown location as of December of this year. At the time of the announcement, there were about 180 employees in the building.

Watertown Development Company Executive Director Craig Atkins said he’s excited about RITALKA’s announcement and what it means for the community.

“The investment and creation of high quality, good paying jobs shows our continued success in attracting companies like RITALKA to Watertown,” Atkins said. “We look forward to a long and prosperous relationship with the company.”

Funding for this project was provided by a consortium including financing from the city of Watertown, Watertown Development Company and a South Dakota Governor’s Office of Economic Development REDI Fund loan.