Maker of cables, conductors to open Cheshire facility

CHESHIRE — A Meriden-based company that makes specialty cables, wires and conductors has purchased the former home of Alexion Pharmaceuticals at 350 Knotter Drive.

Accel International Holdings is expected to move into its new home early next year, according to Jerry Sitko, the town’s economic development coordinator. Sitko said the company also will continue to operate at its factory in Meriden on North Colony Street.

The 177,000-square-foot building Accel international is moving into was used for pharmaceutical manufacturing and will need to be retrofitted to meet the needs of the new tenant. The company is expected to make $40 million in capital expenditures on the facility and hire up to 120 workers, according to town officials.

The company acquired the property for $4.77 million, according to municipal records. Accel International officials were not immediately available for comment Friday regarding the company’s return to Cheshire.

Accel International got its start in Cheshire back in 2003, according to Sitko, operating out of an 18,000square-foot building off West Johnson Avenue.

“After a couple of years, they needed more space and, at the time, we didn’t have what they were looking for” he said. The company left Cheshire and moved to Waterbury in 2005.

Accel International moved to Meriden in 2008.

The company received a $3 million loan from the state in 2016 to pay for improvements to its Meriden facility including new machinery and software.

The loan terms called for it to be provided at an interest rate of 2 percent for 10 years. The terms also call for the company to eligible for loan forgiveness of up to $3 million if it retains 83 jobs and creates up to 75 new jobs.

Alexion got its start in New Haven’s Science Park complex in 1992. It relocated to Cheshire in 2000, where it remained until it returned to New Haven in 2016 to become the centerpiece of the city’s Downtown Crossing economic development effort.

Alexion announced in September 2017 that it was relocatings its headquarters to space in Boston’s Seaport District and relocating about 400 jobs. That move was completed early this summer.

Alexion retains a presence of about 450 research and development workers at 100 College St. in New Haven.