A Botetourt County manufacturing company plans to expand and add new jobs.
Capco Machinery Systems unveiled a $4.2 million expansion of the company's plant in the EastPark Commerce Center on Friday morning. The expansion will allow production capability to double. Construction is expected to begin on Nov. 11, and has an expected completion date of Aug. 8, 2014.
The project will include the hiring of 30 new workers. Positions for engineers, mechanical and electrical technicians, and machinists are being advertised, with an average annual salary of $60,000, according to company Chairman, President, and CEO Edward West III.
Botetourt County leaders plan to give a local performance grant of up to $99,900 over four years to help with the expansion. The county says it successfully competed with China for the expansion.
The Virginia Department of Business Assistance also plans to provide money and services to help the company.
"We are so proud of the success Edward and his employees have achieved through their continuous innovations in technology and customer service over their 21-year history in Botetourt County," said Board of Supervisors Chairman Steve Clinton. "They are carrying the 'Made in Botetourt County' brand around the globe and we are pleased to play a role in helping them do that."
"Capco exports 95 percent of its products outside of the United States, so the option of expanding overseas was tempting," West said, "but my desire to stay in Botetourt County and keep the jobs in the U.S. was much stronger."
Capco makes CNC (computer numerical control) roll grinding machines, and brand name Capco SuperGrinders. The devices are used by metal companies in grind rolls to make foil, sheet, stainless steel, aluminum, copper, brass, nickel, titanium, and other high-tech metals.
Capco counts Alcoa, Allegheny Ludlum, AK Steel, BaoSteel, China Aluminum, China Steel, Arcelor Mittal, Thyssen Krupp, and U.S. Steel among its customers.