Fritz Industries Invests $37.5 Million In Greenville, Texas, Manufacturing Facility
Area Development Online News Desk (08/22/2013)
A firm that manufactures products used in drilling and cementing, and stimulation fluids that are critical to the daily operations of oilfield service companies, Fritz Industries Inc., will invest $37.5 million to open a manufacturing and office facility in Greenville, Texas, creating 250 jobs.
The company conducts research and development to improve productivity in new oil and gas wells and extend the life of existing wells. Employees at this facility will fill production, supply chain, quality assurance, engineering, maintenance, information technology and human resources positions.
"Fritz Industries is an employee-owned, Texas-based company, and we are proud to make this significant investment in the city of Greenville," Fritz Industries President and CEO Dan Montgomery said. "This Texas Enterprise Fund investment will help build a state-of-the-art facility that is critical to introducing new initiatives in the oilfield industry and will create employment opportunities for Greenville residents."
As an incentive The Lone Star State is providing $800,000 through the Texas Enterprise Fund to close the deal on this expansion and job creation.
"Texas continues to be a national example for creating jobs and opportunity thanks to our low taxes, smart regulations, fair courts and skilled workforce," Gov. Rick Perry said. "This TEF investment in Fritz Industries will create hundreds of jobs in Greenville, pump millions of dollars in capital into the local economy, and further strengthen our state's economy."