gfretwell,
I guess I am just so used to building my own stuff. Working primarily in industry for the last 18 years, I just always built my own control panels and rewired many machines. Once I learned to draw my own schematics and implementing them, I just never purchased factory built equipment in most cases. And when your company knows you can do it, you are doing it.
You are right about the 240 volt, same thing. I also, wonder what is wrong with the old one. Maybe the 40 year old enclosure is the issue. Who knows.
As far as UL approved I am not sure how that plays out in a plant. We kinda always figured if it was on our side, we could do pretty much anything we wanted. Of course we always put safety first. Mechanical, electrical interlocks, Emergency controls etc....