Israel-Based Tosaf USA Locates Manufacturing Plant In Bessemer City, North Carolina
The parent company of Tosaf USA, Tosaf Compounds Ltd., is based in Israel and specializes in the manufacturing and marketing of advanced polymers and compounds. The company’s products are used by plastic molders and processors serving a wide range of industries including medical, electrical, packaging and automotive. The Bessemer City facility will be its first entry into the U.S. market.
“We are excited about our entry into the U.S. market and about establishing our operations in North Carolina,” said Amos Megides, Chairman of the Board of Tosaf Compounds, Ltd. “I personally appreciate North Carolina’s assistance in in our search for the best location for our new facility.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $225,000. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
“That Tosaf USA would choose North Carolina for its first United States manufacturing plant says volumes about what we have to offer,” said Governor Pat McCrory. “Tosaf USA found hardworking employees, a great quality of life and the infrastructure needed to be successful.”
In addition to the N.C. Department of Commerce and the Economic Development Partnership of N.C, other partners that helped with this project include: N.C. Community Colleges, Gaston College, Norfolk Southern, Duke Energy, the City of Bessemer City, Gaston County and the Gaston County Economic Development Commission.
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