banner
Business

Plastics firm to expand Louisburg plant

Posted April 11

Map Marker  Find News Near Me

— A company that makes polyethylene foams plans to add 40 jobs in an expansion to its operations in Louisburg, officials said Tuesday.

Palziv North America, a unit of Israel-based Palziv Ltd., expects to invest nearly $5.2 million in the expansion.

"Palziv has seen significant growth in our Crosslinked Foam Division, leading our company to make strategic moves and investments to meet this growing North American demand," Paul Robertson, Palzivā€™s chief operating officer, said in a statement. "With a great performance record from our Louisburg employees, combined with critical support from the state and local government, it became clear to us that Franklin County, North Carolina, was the right choice."

The new jobs will provide an annual payroll impact of more than $1.1 million to the local economy, officials said.

Palziv qualified for a grant of $40,000 from the One North Carolina Fund, which provides financial assistance that is matched by local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job and investment targets to obtain the funds.

Comments

Please with your WRAL.com account to comment on this story. You also will need a Facebook account to comment.

Oldest First
View all