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Tool Manufacturer Expanding in North Carolina

09/11/2008
Kennametal Inc., a manufacturer of drills, bits, and high-end manufacturing tools, will expand its plant in Asheboro, North Carolina, with a $14 million investment, according to the North Carolina governor's office. At least 70 new jobs will be added over the next three years. The Pennsylvania-headquartered company plans to manufacture tungsten carbine metal cutting products in the expanded facility. "We have found a great partner in the state of North Carolina and value this relationship," says Paul DeMand, president of Kennametal's Metalworking Solutions and Services Group. "Kennametal evaluated a number of sites for expansion and selected North Carolina due to its business-friendly economic climate and talented work force." Incentives include a $250,000 grant from the state that will be matched by local governments.

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