Sweden-based plastic compounds manufacturer Polykemi AB is committing $11.8 million to open its first manufacturing facility in the US at the Gastonia Technology Park in Dallas, NC, according to a release issued by North Carolina Gov. Roy Cooper’s office Wednesday.
“Since creating our subsidiary Polykemi Inc. in 2012, our aim has been to establish a production site in the US and we are happy to announce that this new project is now becoming a reality,” Johan Hugoson, the company’s chief executive officer, said in a statement. “Being present with our own production will enable us to get closer to our customers and to explore the many opportunities we see in the US market.”
Polykemi produces custom plastic compounds for the automotive, furniture, and household industries. The company formulates the plastic compounds into granules that are melted or injection molded into a variety of products.
The North Carolina facility is the company’s largest investment to date. About 22 new jobs will be created as a result of the project, including operations, maintenance, finance, and management roles.
State officials approved a performance-based grant of $500,000 from the One North Carolina Fund to support the expansion.
Polykemi currently operates manufacturing plants in China and Sweden.