Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew

Norafin Americas Plans Textile Plant In Mills River, North Carolina

11/08/2016
Norafin Americas, Inc. will establish a manufacturing plant in Henderson County, North Carolina. The company plans to create 46 new jobs during the next three years. The Germany-based nonwoven textile maker will invest $16 million at a location in Mills River for its first production facility outside of Germany.

The company develops, produces and sells high-performance, specialty, nonwoven fabrics to buyers across the protective barrier, industrial, filtration, medical, automotive, apparel, and other technical markets. In March 2016, VR Equitypartner, a leading equity capital company in Germany, Austria and Switzerland became the majority shareholder. In July 2016, investment management company, Maxburg Capital Partners, joined the shareholders to further strengthen future growth into the US. Norafin currently runs a sales office in Asheville.

“Norafin’s expansion into the USA is instrumental in demonstrating support to our existing North American customers, and providing a domestic platform to enable continued future growth,” said Stuart Smith, General Manager for Norafin Americas. “We investigated many possible locations, however, the area, community and infrastructure resources, along with on-going support from North Carolina, Henderson County, and Mills River, made it the best location to call home.”

Norafin Americas’ arrival in North Carolina was facilitated in part by a performance-based grant of up to $100,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants are contingent upon a local government match.

In addition to North Carolina Commerce and EDPNC, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, N.C. Revenue, Henderson County, the Henderson County Partnership for Economic Development and the Town of Mills River.

“The arrival of Norafin Americas builds on North Carolina’s global leadership in manufacturing,” said Governor Pat McCrory. “Our state’s exceptional workforce, convenient access to major markets and outstanding business climate will support this growing company as it expands production into North America.”

Article Discussion

Follow Area Development

Share