A turbine maker that had planned a five-year expansion in Forsyth County is instead closing.
Ellwood Advanced Components announced in December, 2012, that it would create 55 jobs and invest $33 million in its Rural Hall facility over a five-year period. In return, the state was to provide it with $188,000 from the One North Carolina Fund, a grant that required a match from Forsyth County.
On Dec. 20, the company sent a WARN notification to the N.C. Department of Commerce, saying it was ceasing operations “on the earlier of April 15, 2016, with the anticipated schedule for making initial separations no earlier than Jan. 27, 2014.”
A spokesman for the state Department of Commerce on Friday couldn’t say whether or not the company had received any money from state or local municipalities. Businesses must meet hiring and investment goals each year to receive any funds.
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Ellwood Group, based in Ellwood, Penn., bought the Rural Hall plant from Leistritz Advanced Turbine Components in August of 2012. Leistritz had 145 employees at the time. The company makes blades for steam and gas-powered turbines used primarily for the power generation, oil and gas, construction, mining and military sectors.
Staff writer Mary Cornatzer