Lubrimetal of Italy will invest $1.9 million over the next three years developing a manufacturing facility in North Carolina for production of wet and dry lubricants for steel and non-ferrous wire drawing.
The new facility, expected to create 19 jobs in Granite Falls, Caldwell County, will allow Lubrimetal to meet growing market demand in North America for wire drawing lubricants, according to the Jan. 20 announcement by the North Carolina governors office. Wire drawing is a metalworking process used to reduce the cross-section of a wire by pulling the wire through one or more dies.
The creation of a new factory in the United States has been an important part of our global strategy, said Giorgio Corso, executive vice president of Lubrimetal. The company exports 60 percent of its production globally.
Lubrimetals products include calcium based, sodium based and other dry lubricants; oils and greases for wire drawing; emulsifiable oils for wet wire drawing; and corrosion inhibitors. Its brands include Lubrifil dry lubricants and Lubriol wet drawing oils.
Founded in 1959, Lubrimetal is based in Vercurago, in northern Italy.
The projects funding included a $38,000 grant from the One North Carolina Fund. The fund provides financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. The grants require local matches.