Swedish compounder Polykemi AB is opening a plant in North Carolina.
The firm will invest $11.8 million in the new plant, which will be in Gastonia and will create 22 new jobs. It will be Polykemi's first North American location.
Polykemi, based in Ystad, makes compounds based on a wide range of resins for the automotive, furniture and household industries. The firm has existing plants in Sweden and China. The Gastonia plant will be Polykemi's single largest investment to date.
"Since creating our subsidiary Polykemi Inc. in 2012 our aim has been to establish a production site in the U.S.," Polykemi Inc. CEO Johan Hugoson said in an April 14 news release. "We are very happy to announce that this project is now becoming a reality.
"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 U.S. market," he added.
Polykemi is receiving a performance-based grant of $50,000 from the One North Carolina Fund to support the new plant. The fund provides financial assistance to local governments to help attract economic investment and to create jobs. The grant requires a matching grant from local government.
"Polykemi's decision emphasizes our state's world-class talent and affirms the strength of our economy in the global market," North Carolina Gov. Roy Cooper said in the release.