Business Briefs

Chemical firm to open Randolph plant

Posted December 13, 2010 2:19 p.m. EST

— A company that makes custom colors and additives for the polymer industry will open a manufacturing plant in Liberty, creating 71 jobs, officials said Monday.

Americhem plans to invest $22.6 million in the plant during the next three years.

“The addition of this manufacturing capacity to our global network will allow us to provide additional concentrates and specialty compounds to our growing customer base," Rick Juve, Americhem's chief executive, said in a statement.

The average annual wage for the new jobs will be $35,437, plus benefits. Randolph County's average annual wage is $29,172.

Founded in 1941, Americhem is one of the world’s largest custom color and additive concentrate manufacturers. Based in Ohio, the company operates six manufacturing facilities on three continents, employing more than 500 people worldwide, including 127 in Cabarrus County.

The company qualified for a $225,000 grant from the One North Carolina Fund, which provides financial assistance to attract business projects to the state. Companies receive no money up front and must meet job and investment targets to obtain the funds.