A Nevada rocket fuel component manufacturer has purchased 4,800 acres of ranch land located about 15 miles north of Cedar City for its new plant and possible future development.

Dave Smith, a Cedar City real estate developer, said the sale was finalized Wednesday between officials of Pacific Engineering and Production Co. and the three area landowners. Mountain View Real Estate handled the transaction.The company plans to build its ammonium perchlorate plant to replace the Henderson, Nev. facility that was destroyed in a series of explosions last May, killing two employees and injuring some 350 other people.

The Utah plant is expected to initially employ about 70 workers and eventually as many as 150, including at least 15 who will relocate to Cedar City from Nevada.

PEPCON officials have said they are considering building an industrial park to attract new companies to Iron County on a portion of their property.