Norafin Americas Plans Textile Plant In Mills River, North Carolina
11/08/2016
The company develops, produces and sells high-performance, specialty, nonwoven fabrics to buyers across the protective barrier, industrial, filtration, medical, automotive, apparel, and other technical markets. In March 2016, VR Equitypartner, a leading equity capital company in Germany, Austria and Switzerland became the majority shareholder. In July 2016, investment management company, Maxburg Capital Partners, joined the shareholders to further strengthen future growth into the US. Norafin currently runs a sales office in Asheville.
“Norafin’s expansion into the USA is instrumental in demonstrating support to our existing North American customers, and providing a domestic platform to enable continued future growth,” said Stuart Smith, General Manager for Norafin Americas. “We investigated many possible locations, however, the area, community and infrastructure resources, along with on-going support from North Carolina, Henderson County, and Mills River, made it the best location to call home.”
Norafin Americas’ arrival in North Carolina was facilitated in part by a performance-based grant of up to $100,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants are contingent upon a local government match.
In addition to North Carolina Commerce and EDPNC, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, N.C. Revenue, Henderson County, the Henderson County Partnership for Economic Development and the Town of Mills River.
“The arrival of Norafin Americas builds on North Carolina’s global leadership in manufacturing,” said Governor Pat McCrory. “Our state’s exceptional workforce, convenient access to major markets and outstanding business climate will support this growing company as it expands production into North America.”
Project Announcements
Piramal Pharma Solutions Expands Lexington, Kentucky, Operations
10/04/2024
G&H Decoys Plans Corning, Arkansas, Headquarters-Manufacturing Operations
10/04/2024
Britain-Based Ultimate Defense Technologies Establishes Billings, Montana, Operations
10/04/2024
Google Plans Dorchester County, South Carolina, Data Center Operations
10/04/2024
Sirius Analysis Plans Virginia Beach, Virginia, Headquarters
10/04/2024
South Korea-Based ILJIN Plans Auburn, Alabama, Manufacturing Operations
10/04/2024
Most Read
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024
-
What the Latest EPA PFAS Rule Means for Site Due Diligence
Q3 2024
-
Cold Storage: The Next Big Thing in Industrial Real Estate
Q3 2024
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Challenge of Securing Sufficient Electrical Power for Battery Cell Plants
Q3 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
Semiconductors’ Fragile Relationship With Water May Be Tested
Q3 2024