Italy-Based Meter Bearings Group Invests $4.5 Million To Establish First U.S. Production Facility In Walterboro, South Carolina
Meter Bearings Group is a family-owned company with headquarters in Robassomero, Torino, Italy. The company, which was founded in 1981, has manufacturing plants in Italy and China and customer support offices in Germany and the United States. The company plans to begin production by September 2015.
"Part of our growth strategy is to establish a manufacturing operation in the United States to reach our customers that already exist there. We chose Colleton County thanks to the great and professional support of the South Carolina Department of Commerce staff and local officials,” said Vittorio Musso, President /CEO of Meter S.p.A.
Among the factors that influenced the company's decision to locate in Colleton County is proximity to the Port of Charleston, which Meter Bearings Group will utilize for its importing and exporting needs, the state Department of Commerce said.
The Coordinating Council for Economic Development has approved a $200,000 Rural Infrastructure Fund grant for real property improvements. The company is coordinating with readySC to create a customized, pre-employment training program.
"We couldn't be more excited to see Meter Bearings Group establish their first U.S. manufacturing location in South Carolina. Their $4.5 million investment, 50 new jobs in Colleton County and increased business through the port will be a real boost to the area and the hardworking South Carolinians who live there,” Governor Nikki Haley said.
"Through our ease of access to global markets through the port and our strong workforce, Meter has realized the potential of doing business here in South Carolina. Meter will be a great addition to our growing community of foreign-owned companies in our state, and I look forward to seeing them succeed here” Secretary of Commerce Bobby Hitt explained.
"Meter Bearings Group's decision to locate in South Carolina is great news for Colleton County, and the SCPA looks forward to fulfilling their import-export needs. Their announcement today is a reminder that our capable port system impacts every county across the state and handles cargo for businesses of all sizes,” said Jim Newsome, President/CEO of the SC Ports Authority.
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