ASHEBORO, N.C. (April 30, 2:30 p.m. ET) — Injection molder Carolina Precision Plastics LLC has decided to set up an operation in Mocksville, N.C.
Carolina Precision invested $1.9 million in the 130,000-square-foot facility, Carolina Precision President and CEO Brian Tauber confirmed in an email correspondence.
“We are transferring our Stratford, Conn., operations to Mocksville because the costs of operating in North Carolina is less than in Connecticut and we have better control of the company when located in the same general area,” Tauber explained.
Carolina Precision, based in Asheboro, N.C., also runs molding plants in Asheboro and Greensboro, N.C., and Suzhou, China. It inherited the Stratford, Conn., plant in 2009 when it bought ATP Plastics Inc.'s health and cosmetics division.
Local government officials have committed $250,000 in a grant from the One North Carolina Fund for the Mocksville project. Earlier this year Tauber said his firm had yet to make a final decision on the acquisition while it evaluated its capacity needs.
Tauber confirmed an estimate by North Carolina Gov. Bev Perdue that Carolina Precision will invest about $5.3 million in the Mockville project over three years and that it will create about 140 jobs.
Carolina Precision injection and blow molds mostly consumer packaging destined for cosmetic and health care markets. Other sectors it services include office supplies, automotive, food and beverage and industrial. In Mocksville it will mainly mold glycol-modified PET jars, but will also pick up work from other facilities if there are capacity constraints.
The governor's office estimated the annual wage of the new jobs will be $39,183 plus benefits, compared with the average annual wage of $28,808 for Davie County where Mocksville is located.
Plastics News estimates Carolina Precision's North American injection molding sales at $65 million in 2011.