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Truck Parts Supplier Expanding Investing $25M in North Carolina

12/05/2008
Sypris Technologies Inc., a manufacturer of drive train components for trucks, will invest $25.4 million to expand its manufacturing facility in Morgantown, North Carolina, according to the North Carolina governor's office. The project is expected to create 203 new jobs over the next five years at an average annual salary of $33,900 plus benefits. "This is a pivotal period for all companies in the automotive industry," says Sergio de Carvalho, Sypris Technologies' president. "Consolidating certain areas of our operations under one roof in Morgantown will improve our competitiveness, and the Morgantown facility will become a major hub for our North American operations." The company will receive up to $2 million in tax credits based on job creation over the next 10 years.

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