Mafic to invest $15 million into a new basalt fiber production facility

A new production facility will be located in the American city of Shelby, North Carolina, and must become the company’s first manufacturing facility on the territory of the USA.

Mafic USA, a unit of Mafic Inc. (Ontario, Canada) founded in 2012, is part of a global producer of continuous and chopped basalt fiber as well as basalt roving, fabrics, mats, meshes, and long fiber thermoplastic resins.

Mafic products are shipped to buyers in the automotive, aerospace, alternative energy and numerous other industries. The company currently produces its basalt fiber products in Ireland and its long fiber thermoplastic resins in Canada.

Mafic plans to invest more than $15 million in the US production facility and create 113 jobs, informs the Governor Pat McCrory on the official site. Mafic CEO Mike Levine said:

We considered a number of locations across the U.S. for our first American manufacturing facility. North Carolina and Cleveland County had been under consideration from the start, due to its network of specialized suppliers and wide-range of potential B2B customers and strategic partners. What sealed the deal for us was the multifaceted support from all levels of government; the state, county, and city.

Mafic USA’s arrival in North Carolina was made possible in part by a performance-based grant of up to $225,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Mafic also applies for $500,000 grant from the state’s Building Reuse Program. After the necessary renovation and modernization, the empty building will house the advanced basalt fiber manufacturing facility.

Mafic Inc. is known for constantly improving its products to use them in advanced composite materials; we have already informed about outcomes of the testing the company conducted with a basalt fabric of its own manufacture.

The benefits of basalt composites were demonstrated in Chicago, where spawning grounds for catfish were constructed using basalt rods made from Mafic roving.

Companies: MAFIC

Countries: Canada

Industries: Aerospace, Automotive, Energy, Finance & Investment

Terms: Investment

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