RALEIGH, N.C.— May 9, 2019 — Loba-Wakol LLC, a supplier to the wood and resilient flooring industry, will expand its operations in North Carolina, establishing a new distribution and warehouse facility in Anson County and creating 24 jobs, Governor Roy Cooper announced today. The company plans to invest $6.6 million in Wadesboro.
“North Carolina offers an ideal location, skilled workforce, and strong transportation networks for international companies looking to expand their North American operations,” said Governor Cooper. “We’re proud to welcome this company and these new jobs to our state.”
Loba-Wakol is the North American subsidiary of two respected German manufacturing companies, Loba and Wakol. Both companies have been considered leading suppliers for adhesives and finishes for nearly 100 years, offering innovative solutions and systems for a range of industries. They manufacture a wide range of adhesives and coatings for the flooring industry and produce products for the upholstery industry, mattress industry, and the metal packaging industry as well. Loba and Wakol are part of the ARDEX Group of brands. ARDEX is one of the world’s market leaders in high-quality chemical building products. As a family-owned company, the company has maintained a sustainable growth course for nearly 70 years. Today, the ARDEX Group employs more than 3,000 people and is represented in over 100 countries on all continents. The Wadesboro facility will be established as a distribution and warehouse facility with room for future expansion.
“The cooperation with Anson County and the State of North Carolina provides us with an optimal opportunity to further expand our North American operations. The Loba-Wakol brand enjoys a distinguished reputation and stands for technical competence, premium products, and outstanding service,” said Ashley Carter, COO, for Loba-Wakol. “The extremely high level of commitment from the people involved mimics our core values and has convinced us that Anson County, North Carolina is the ideal partner for our organization.”
“Loba-Wakol’s decision today once again expands North Carolina’s international business presence,” said North Carolina Commerce Secretary Anthony M. Copeland. “Our favorable business climate and hard-working people continue to win our state many friends in the business world.”
N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company’s decision to locate in the state.
The average annual wage of the new jobs announced today will be $43,750. The average wage in Anson County is currently $33,358.
A performance-based grant of $70,000 from the One North Carolina Fund will help facilitate Loba-Wakol’s move into Anson County. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
“We’re very pleased that Loba-Wakol has chosen to expand in North Carolina and has selected our region for this new facility,” said N.C. Senator Tom McInnis. “We extend a warm welcome and look forward to working with the company as they get established and grow in Anson County.”
“Successful economic development projects require collaboration from many people and local organizations,” said N.C. Representative Mark Brody. “While we pause to celebrate today’s announcement, the work of these community partners will continue as we support Loba-Wakol in the days to come.”
Partnering with the North Carolina Department of Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, Anson County, the Town of Wadesboro, and the Anson County Economic Development Partnership.
Posted May 13, 2019
Source: North Carolina Office of the Governor