Florida Production Engineering Inc. will invest $2.8 million to expand into North Carolina, buying some of the assets of the former Moll Industries Inc. injection molding plant in Asheboro.
The new FPE Asheboro plant will focus on injection molding, design and development of the company's industrial products and will take advantage of the facility's clean room production capabilities.
Ormond Beach-based FPE, part of Ernie Green Industries Inc. of Dayton, Ohio, announced the acquisition in a Nov. 17 news release. The company plans to employ as many as 96 former Moll workers, and told Randolph County officials it expects to add the first 49 jobs within two years.
The Randolph County Board of Commissioners approved $80,000 in support for the company through performance-based grants based on job creation, said Bonnie Renfro, president of Randolph County Economic Development Corp. in Asheboro.
The plant was among the last operations for Dallas-based Moll, which was forced into bankruptcy in April. An auction for the assets was set for Dec. 1, and Renfro said the firm still plans to auction unneeded equipment even as FPE prepares for new production.
In addition to more molding capacity, FPE said it will combine the engineering abilities from key Moll personnel to help the company provide complete development capabilities and enhance its growth in medical and industrial products.
FPE also expanded into Stratford, Ontario, in September, buying a site that had been a Collins & Aikman Corp. plant.