This is an updated version of a story published at 11:08 this morning.
EAST LONGMEADOW - The new owners of Hasbro's sprawling board-game manufacturing plant here see the business growing as they seek out business making games for Hasbro's competitors in the board game market.
Those game and toy companies, said Chris Van Doorslaer CEO of Belgian card printer Cartamundi Group, are increasingly placing their manufacturing orders in the United States and not with factories in China and other Asian countries.
"That is one of the reasons why we were interested in buying a factory in East Longmeadow," Van Doorslaer said. "Many companies are re-shoring to the United States as wages in China go up and exchange rates make it more difficult to do business."
Hasbro, the Rhode Island-based maker of tows and games including Mister Potato Head, My Little Pony and the Transformers, announced Tuesday that it is selling both of its manufacturing plant in East Longmeadow and its plant in Waterford , Ireland to Cartamundi Group of Belgium.
Hasbo's favorites like "Monopoly", "Life" and "Twister" won't disappear from the factory floor in East Longmeadow. Cartamundi Group has a five-year contract with Hasbro to keep producing Hasbro games in East Longmeadow, Van Doorslaer.
"We have been making a lot of cards for the games of Hasbro," Van Doorslaer said. "Our next step now expand and start working with (creators) of other board games who might have been reluctant to work with Hasbro."
Cartamundi products include Hasbro's "Magic: The Gathering" role-playing game as well as decks of playing cards for casinos and for consumers, cards for other company's board games and Topps baseball cards.
It has 10 factories in four continents, but East Longmeadow will be its only one set up to make board games, he said.
"We don't have a crystal ball, but the board game business is good," Cartamundi said.
He declined to say who the specific targets will be, only that it will be added business on top of Hasbro production.
"You have to think of competitors of Hasbro," he said. "Go into a ToysRus or a Target and look at all the games for sale. That's who we want to work with. Those will be all our customers."
Van Doorslaer said the Cartamundi name means "cards for the world." The company will retain Hasbro's 350 employees on the same terms they have now. He was in town Tuesday to meet with employees.
Terms of the sale were not disclosed. the deal is expected to close in 60 days.
The 1.1-million-square-foot plant at 443 Shaker Road is assessed at $29 million, according to town records. The former Milton Bradley Co. built the plant in the 1960s.
In recent years, Hasbro has shifted its attention towards a future as an entertainment company, leveraging well-known brands like "Battleship" into Hollywood movie franchises.
in 2011, it moved 70 game development jobs from East Longmeadow to Hasbro's headquarters in Rhode Island.
Milton Bradley, himself, moved to Springfield in 1856, and founded a lithography and publishing business in 1860. His game "The Checkered Game of Life" launched the board game industry. Milton Bradley Co. later became famous for "Mouse Trap," "Trouble Bubbles," "Word Play," and "Twister."
Hasbro purchased the Milton Bradley in 1984.
The Hasbro plant had more than 1,000 workers in the 1990s and early 2000s, said Jeffrey Ciuffreda, president of the Affiliated Chambers of Commerce of Greater Springfield.
"I know there has always been talk of them cutting back," Ciuffreda said, adding that there were no more local executives in decision making roles. "I hate to say it, but when we started losing the local contacts and decision makers we were a little worried."
Richard K. Sullivan Jr., CEO of the Western Massachusetts Economic Development Council said this idea of bringing manufacturing work back from China is one that could pay dividends here in the Pioneer Valley, whether it be Cartamundi or someone else.
"It is absolutely something that is happening.That is why you will see the EDC with a real emphasis on manufacturing. I think it is also as important that we as a region highlight a real center of excellence around this."
On Wall Street, Hasbro (HAS) was trading at $78.61 a share, up 39 cents a share, earlier today.