Franklin Tubular Products Inc., a manufacturer of manipulated tubular assemblies, will invest $4 million to locate its operations in Franklin, North Carolina, with plans to create 121 jobs over the next three years in Macon County.
Franklin Tubular Products is a subsidiary of Tricorn Group PLC. As a part of the project, Tricorn acquired the facility, business and assets of Whitley Products. The Franklin facility will continue to manufacture fabricated metal tubes. There are currently more than 100 people employed at that plant.
“Following the establishment of our manufacturing facility in China announced last year, this acquisition represents a further and very significant step in the Tricorn business achieving a considerable multi-site global business, delivering global tube solutions to a global OEM customer base,” said Phil Lee, Group Finance Director, Tricorn Group PLC. “We have already started to establish close working relationships with Whitley’s U.S. customer base and this is an ideal platform from which to increase sales in the U.S. for the Franklin facility.”
“My administration is committed to partnering with businesses to help them succeed,” said Governor Pat McCrory. “We must do more to align educational preparation and training with the needs of our manufacturers and other industries.”
“North Carolina has a proud heritage in manufacturing,” said Sharon Decker, N.C. Secretary of Commerce. “We want more ‘Made in NC’ products to be sold around the country and around the world, so we are pleased Franklin Tubular Products is locating its operations in Macon County.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $56,000. The grant is contingent upon proof of job creation and receipt of a local funding match.
“It is wonderful news to learn that Franklin Tubular Products has purchased the business and certain assets from Whitley Products to keep that operation and its 120 jobs in Franklin,” said Senator Jim Davis. “It is my understanding that an additional $4 million will be invested in the near future to modernize the plant. This achievement is the result of a collaborative effort by Governor McCrory's office, the North Carolina Department of Commerce, the Macon County Board of Commissioners, the Town of Franklin, the Macon Economic Development Corporation, and Advantage West. This is a great example of what can be accomplished when the appropriate stakeholders work together.”