Automotive Supplier to Open New Plant in Alexander County

Borealis Compounds Inc. intends to invest $15 million in a production facility in Taylorsville, N.C. The Austrian company will create 37 jobs.
Borealis Compounds Inc.'s global headquarters in the IZD Tower in Vienna
Borealis Compounds Inc.’s global headquarters in the IZD Tower in Vienna

Borealis Compounds Inc., a supplier of plastic materials, will locate and operate a dedicated automotive polypropylene compounding plant in Alexander County. With a $15 million initial investment, the Austrian company will create 37 jobs in Taylorsville, N.C. A performance-based grant of $100,000 from the One North Carolina Fund will help facilitate Borealis’ move to Alexander County.

With global headquarters in the IZD Tower in Vienna, Borealis serves several industries, including automotive, energy and consumer products sectors. The company’s applications in the automotive industry include bumpers, body panels, trims, dashboards and other key components. Borealis Compounds’ new North Carolina facility will serve automotive industry customers in North America.

“We’re convinced that this expansion will strengthen our position as a local supplier to automotive OEMs and their tier suppliers in North America and that it will enable us to deliver our global material innovations locally,” said Borealis Vice President Marketing & New Business Development Maria Ciliberti, in a prepared statement.

Compensation will vary by position, but average salaries for the new jobs will be $40,125, which is above the current average annual wage in Alexander County of $30,631. The new facility will complement the existing Borealis Automotive Compounding assets in New Jersey, as well as the current production via tolling partners.

The North Carolina plant is scheduled to become commercially operational in early 2019.

Image via Google Earth