Germany-based biobased metalworking fluids manufacturer Oemeta plans to build its first U.S. manufacturing plant in Utah.
Oemeta is truly excited for the opportunity to partner with Utah in establishing our first U.S.-based facility in Salt Lake County, Andrew Leech, president and CEO of Oemeta Inc., said in a news release from the Utah Governors Office of Economic Development.
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According to the economic development office, Oemeta indicated it will create 58 new jobs over the next seven years. The state agency said capital investment in the facility could approach $5.3 million.
As part of a contract with Oemeta, the Utah Governors Office of Economic Development Board of Directors approved tax credits of up to more than $113,447.
Utah continues to attract high-tech companies from around the world thanks to our low taxes, sound regulations and skilled workforce, said Jeff Edwards, president and CEO of the Economic Development Corp. of Utah.
According to its web site, Oemetas products include water-based cooling lubricants, multi-function oils, hydraulic and lubrication oils, along with neat cutting and grinding oils. The company claims its products have less impact on the environment, using biobased technology. Its products are used in the metal and automotive manufacturing industries, and its customers include automakers BMW and Audi.
Oemeta has subsidiaries in the United States, Canada, China, United Kingdom, India, Singapore and Poland as well as sales partners in more than 30 countries.