January 21, 2012

Gov. Bev Perdue announced Friday that Lubrimetal Corporation, a member of the Lubrimetal family of companies, will locate a new facility in Caldwell County.

The company plans to create 19 jobs and invest $1.9 million over the next three years in Granite Falls. The project was made possible in part by a $38,000 grant from the One North Carolina Fund.

"My top priority is creating jobs," Gov. Perdue said. "Our history of investing in education and workforce and job training programs has created a strong business climate where manufacturers can thrive in a global market. We must get back to supporting these programs so that more companies like Lubrimetal will move to or expand in North Carolina."

Lubrimetal is an Italian-owned family company founded in 1959. It is a leading producer of lubricants for the wire drawing industry. The company plans to develop a manufacturing facility for the production of wet and dry lubricants for the drawing of steel and non-ferrous wires. The new facility will allow Lubrimetal to meet growing market demand in North America.

"We are incredibly pleased to be the new U.S. home for Lubrimetal Corporation," said Deborah Murray, executive director for the Caldwell County Economic Development Commission. "This is yet one more important step in the diversification of our local economy and evidence that Caldwell County is serious about attracting globally competitive business and industry."

Caldwell EDC Chairman Bob Floyde shared that sentiment.

"On behalf of the Economic Development Commission Board, and the citizens of Caldwell County, we welcome Lubrimetal to our community," he said. "We are proud to have an international company choose Granite Falls as their U.S. location, and we appreciate the investment and new jobs that will be created. I know that Lubrimetal will value the skill and dedication of our workforce and benefit from the exceptional resources Caldwell County has to offer."

Salaries at the company will vary by job function, but the average annual wage for the new jobs will be $41,316, plus benefits. The average annual wage in Caldwell County is $29,796.

Lubrimetal Corporation Executive Vice President Giorgio Corso spoke of the global expansion of the company and the ability of different entities to bring the deal to fruition.

"The creation of a new factory in the United States has been an important part of our global strategy," Corso said. "All the partners involved have worked tirelessly to help make our decision easier. These people should be commended for their work to bring jobs to the people of Caldwell County. I believe we have made the right decision to locate here, and that there is a very strong future for Lubrimetal Corporation and the people of the community we are proud to be joining."

Officials from Granite Falls are pleased Lubrimetal chose the town as the location for its facility.

"The Town of Granite Falls is extremely proud to have been chosen as the location of the first Lubrimetal facility in the United States," Mayor Barry Hayes said. "We look forward to the Granite Falls facility serving as an integral part of Lubrimetal's global strategy. Lubrimetal has been a model corporate citizen in Italy through the years. As a family-owned business, the Corso Family has built the company into a world leader in the wire drawing industry. The third generation of the Corso family is now working in the business, and we look forward to working with them to build on their already successful corporate history."

Granite Falls Town Manager Jerry Church added, "We are ecstatic that Lubrimetal has made the decision to locate their first U.S. facility in the Town of Granite Falls. Lubrimetal was convinced to locate in the state of North Carolina, Caldwell County and the Town of Granite Falls through a collaborative effort with the N.C. Department of Commerce, the N.C. Rural Economic Development Center, Rep. Edgar Starnes, Caldwell County, Caldwell Community College and Technical Institute, the Caldwell County Chamber of Commerce and the Caldwell County Economic Development Commission. We look forward to working with the Corso family to get the Granite Falls facility operational and in creating employment opportunities for our citizens."

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.

North Carolina continues to have a top-ranked business climate. Through Gov. Perdue's JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.

Through use of the One NC Fund, more than 60,000 jobs and $11 billion in investment have been created since 2001.

For more information about Lubrimetal, including job opportunities, go to www.lubrimetal.com.

by News Topic Staff

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