Fiber Composites plans to create 25 new jobs and invest $3.8 million over the next three years as it expands operations in the Stanly County town of New London.
The company, which operates as Fiberon in New London, makes composite and PVC decking, railing and fencing for homes and light commercial construction. It currently employs 324 workers in the state.
The expansion, announced Monday in a statement from Gov. Pat McCrory’s office, was made possible in part by a performance-based grant from the One North Carolina Fund of up to $48,000. The grant is contingent upon a local match.
Fiber Composites, founded in 1997, is privately owned. Its New London facility is the division headquarters for its North American operations.
Salaries will vary by job function, but the average annual salary will be $29,458 plus benefits. The Stanly County average annual wage is $30,546.
“The company is appreciative of the dedication and skill of our local workforce in Stanly County and is happy to be able to expand our operations in New London,” Fiberon President Douglas Mancosh said in a statement. “We are excited to locate our new recycling operation in New London, which will support our growing composite extrusion business.”
Staff writer Mary Cornatzer