By Associated Press - Sunday, July 12, 2015

SHREVEPORT, La. (AP) - A textile company that once planned a $130 million mill in Bunkie is now considering a mill in the former General Motors plant in Shreveport.

Dan Feibus, manager of Gulf Coast Spinning Co. LLC and CEO of its parent, Zagis USA - both based in Lafayette - tells The Times (https://bit.ly/1HXuGZE) they’re close to a deal for space.

“We’re very excited about it,” he said.

Feibus and Gov. Bobby Jindal said in December 2013 that Gulf Coast Spinning would build a 300-worker mill in Bunkie.

Work there stopped months ago, The Town Talk reported earlier this month.



Feibus would not say how many jobs might be involved in Shreveport or give other details about the current plans. He said that’s because talks are incomplete and he’s protecting other involved parties and those unaware a deal is in the works.

Stuart Lichter, president and board chairman of Industrial Realty Group, which leases the 4.1 million-square-foot plant, did not respond to The Times’ request for an interview.

He also is on the board of Elio Motors, which rents more than one-third of the space but - 2 ½ years after announcing plans for a three-wheeled, $6,800 vehicle - has not begun production at the plant where it said it would create 1,500 jobs. Its executives also did not respond to requests for interviews, the newspaper said.

In January, CEO and founder Paul Elio said he needed $230 million to start production and that production would be pushed back again until 2016.

The company began a crowdfunding campaign in June at startengine.com. As of Sunday evening, the site showed nearly $21.5 million in “non-binding indications of interest” toward the $25 million goal.

The company said it also has $290 million in pre-orders and has raised another $70 million.

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Information from: The Times, https://www.shreveporttimes.com

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