WARREN – TPI Composites Inc. has been awarded a $6.8 million fixed-price contract to build 16 U.S. Naval Academy sail-training crafts, according to U.S. Sen. Lincoln D. Chafee. The 44-foot ships, made out of fiberglass and reinforced plastic, are to be built in Warren by April 2008. They will be used to train midshipmen.
TPI makes composite products for industrial and recreational applications, from racing sailboats, to wind turbine blades, to airport people-moving trains. The company does laminate design and testing, prototype and tooling fabrication, and production.
Westerly Community Credit Union branches out
RICHMOND – The Westerly Community Credit Union has broken ground on its first branch outside its hometown, on Route 138 in a growing business district east of Route 95’s Exit 3. The 3,200-square-foot facility is expected to be complete by November. The full-service branch will be geared toward customers in Charlestown, Richmond, Hopkinton and Exeter, with ATMs, drive-through lanes and an Internet café.
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The credit union currently has two retail sites, both in Westerly. The only two banks in Richmond now are the Washington Trust Company and a Citizens Bank at the local Stop & Shop. A First Bank & Trust branch was closed after the bank was acquired by Washington Trust in 2002.
