A yarn company based in Richmond County plans to expand its operations and add 135 jobs during the next three years.
Richmond Specialty Yarns will produce specialized yarn for the military, medical and furniture markets. The company already employs 140 people at its operations in Ellerbe, about 90 miles southwest of Raleigh.
The company is eligible to receive a $150,000 state grant if it creates the new jobs and retains the existing ones, Gov. Bev Perdue's office announced today.
The news is a rare example of a textile company expanding in this state during the recession. The company's manufacturing capacity and the stability of its workforce were among the factors that led to the planned expansion, said Jean Parenteau, president of FilSpec. The Canadian yarn company recently bought a controlling interest in Richmond Specialty Yarns.
The new jobs will pay average annual wages of $25,931.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or 
Comments
PERCY KUTION
Mon, 11/09/2009 - 18:46 — PercyKutionScam, smoke & mirrors. Soon as the executives get the TAXPAYER'S money and spend it, they'll announce a shut down and move to Mexico. Just like Dell.