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Richmond Specialty Yarns to expand in Ellerbe

10
Nov '09
Gov. Bev Perdue announced that Richmond Specialty Yarns, a manufacturer of fiber-based yarns for the textile industry, will expand in Richmond County.The company plans to create 135 new jobs and invest $1 million during the next three years. In addition, the project will help the company retain 140 existing jobs.The announcement was made possible in part by a $150,000 grant from the One North Carolina Fund.

“North Carolina maintains its strong ties to the textile manufacturing industry,” Gov. Perdue said. “Our highly skilled workforce and business-friendly policies continue to support and attract growing companies, like this one, which are adapting for success in a global market.”

Richmond Yarns Inc. is a fiber-based yarn company with its headquarters and manufacturing facility in Ellerbe. FilSpec Inc., a yarn-spinning company based in Canada with clients worldwide, has purchased a controlling interest in Richmond Yarns, which will be renamed and expand operations at its Ellerbe site to serve new markets.

The new company, Richmond Specialty Yarns LLC, will produce specialized yarns from fibers and fiber blends to serve the military, medical, protective wear, marine, upholstered furniture and other markets.Salaries for the 135 new jobs will vary by job function, but the overall annual average wage will be $25,931, not including benefits.

“For FilSpec, North Carolina was the best choice because of the very good relationship we already have with Richmond Yarn Inc. as a supplier, because of their available manufacturing capacity and because of the quality and stability of the workforce already in place,” FilSpec CEO Jean Parenteau said.

The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches. “During these tough economic times, it's critical to make the investments to grow jobs and help companies expand,” said Sen. Bill Purcell.“This is certainly good news for our area.”

“North Carolina's skilled workforce continues to attract globally competitive companies and we welcome these new jobs to Richmond County,” said Rep. Melanie Wade Goodwin. North Carolina continues to have a top-ranked business climate. Through Gov. Perdue's JobsNOW initiative, the state will work aggressively to create jobs, train and retrain our workforce, and lay the foundation for a strong and sustainable economic future. Other partners who helped make this announcement possible include the N.C. Department of Commerce and Richmond County.

State of North Carolina, Office of the Governor


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