Palziv North America, a subsidiary of Israel-headquartered Palziv LTD, will invest US$7.8 million to locate its North American headquarters and foam manufacturing facility in Louisburg, North Carolina, according to the North Carolina governor's office. The company plans to create 72 new jobs at an average annual wage of $34,167 plus benefits. Palziv will move into an existing building and manufacture cross-linked foam blocks and rolls from polyethylene pellets; the company's foam is used for packaging, insulation, toys, prosthetics, and other applications. "Palziv's North Amerian headquarters and manufacturing facility will attract university graduates in advanced sciences and a unique blend of production labor associates," says Gregory A. Brooker, Palziv North America's president and CEO. "I am pleased with our decision to locate in Franklin County. The combination of regional and state programs will enhance Palziv's global leadership position within the thermoplastic cross-linked foam industry." The state will provide the company with a $250,000 grant, contingent on job creation, that must be matched by local governments.
