Mafic USA, Shelby, N.C., has received a $3 million U.S. Department of Agriculture (USDA) Business and Industry Loan to purchase new equipment for its basalt —mafic volcanic rock — fiber manufacturing facility. The loan was announced by USDA Rural Development State Director Reginald Speight.
“Mafic USA is about to become to be the largest volume producer of basalt fiber once the plant reaches full capacity,” Speight noted. “This underscores the President’s desire for the United States to move away from foreign supply chains and make quality products here at home.”
In his recent State of the Union address, President Joe Biden said: “There’s something happening in America. The rebirth of the pride that comes from stamping products ‘Made in America.’ The revitalization of American manufacturing.”