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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