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Area Development - Site Selection, Facility Planning and Workforce Development

Magnet Manufacturer Bringing 65 Jobs to North Carolina

12/21/2011
Hitachi Metals North Carolina will expand operations at its China Grove plant and create 65 jobs in North Carolina according to an announcement by Gov. Bev Perdue. The average annual wage for the new jobs will be $43,108 (not including benefits).

The ferrite magnet manufacturer--a subsidiary of Hitachi Metals-- expects to invest about $60 million in the plant over the next four years. Presently 65 workers are employed there.

Hitachi Metals North Carolina's ferrite magnet manufacturing base will produce neodymium magnets engineered primarily for use in hybrid and electric vehicles. The new plant will support the company's efforts to expand its magnet supply capacity to meet an increase in global demand.

A $153,700 grant from the One North Carolina Fund helped finance the project.

"Hitachi Metals is pleased to be locating a new rare earth magnet facility in China Grove," said Mikio Yasuoka, Hitachi Metals, Neomax company president. "We look forward to our continued good working relationship with the state of North Carolina, Rowan County and the town of China Grove."

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