BEVERLY EAVES PERDUE
GOVERNOR
STATE OF NORTH CAROLINA
OFFICE OF THE GOVERNOR
20301 MAIL SERVICE CENTER • RALEIGH, NC 27699‐0301
Dec. 20, 2011
Contact: Chris Mackey
Office: (919) 733‐5612
Magnet Manufacturer to Create 65 Jobs in Rowan County
Hitachi Metals Announces Expansion Following NC Economic Development Mission to Asia
RALEIGH – Gov. Bev Perdue today announced that Hitachi Metals North Carolina, Ltd., a leading manufacturer of ferrite magnets, will expand operations at its China Grove plant. The project will create 65 full-time jobs and the company expects to invest approximately $60 million in the plant over the next four years. The project was made possible in part by a $153,700 grant from the One North Carolina Fund.
“My top priority is creating jobs, and when we met with Hitachi officials in Asia a few weeks ago, we emphasized the many benefits of expanding in North Carolina,” Gov. Perdue said. “Our state’s top-ranked business climate, skilled workforce and job training programs make a great fit for global manufacturers like Hitachi.”
Hitachi Metals North Carolina, a subsidiary of Hitachi Metals, currently employs 65 people at its China Grove facility. The company’s ferrite magnet manufacturing base will produce neodymium magnets engineered primarily for use in hybrid and electric vehicles. The new plant will support the company’s efforts to expand its magnet supply capacity to meet an increase in global demand.
Salaries will vary by job function, but the average annual wage for the new jobs will be $43,108 not including benefits. The Rowan County average annual wage is $36,036.
“Hitachi Metals is pleased to be locating a new rare earth magnet facility in China Grove. The Governor’s visit to Japan and the One North Carolina Fund incentives were helpful in making the decision to locate in North Carolina. We look forward to our continued good working relationship with the State of North Carolina, Rowan County and the Town of China Grove,” said Mikio Yasuoka, Hitachi Metals, Neomax Company President.