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Swedish Tool Maker Investing $85M in North Carolina

Sandvik, Inc., a Sweden-headquartered supplier of cutting tools and other engineered equipment, will invest more than US$85 million to expand its plant in Mebane, North Carolina. The company will create 51 new jobs with an average annual wage of $46,500 plus benefits. "Sandvik's success in the Mebane area led to a decision to expand," says Jon Barber, the company's general manager. "The current skilled work force and continued partnership with Alamance Community College providing future training and development needs stimulated this decision. Our expansion in Mebane is a reflection of the confidence and support Sandvik has in the area." The Burlington Times News reports that the company will receive state and local incentives of at least $1.2 million over three to four years, contingent on hiring and capital investment benchmarks.

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