Sandvik Under Way on $85 Million Expansion in North Carolina

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Researched by Industrial Info Resources (Sugar Land, Texas)--Sandvik AB (OTC:SDVKY) (Sandviken, Sweden) is currently under way with an $85 million expansion of its plant in Mebane, North Carolina, that manufacturers tool holders for machine tools.

Site preparation began in October 2008 for an 81,000-square-foot expansion of the existing 74,000-square-foot building and the installation of new equipment. Building construction started thereafter, and overall completion is slated for late spring or early summer 2009. Approximately 51 new jobs will be created.

This was the company's first facility constructed in North Carolina when it opened in 1980, and the third in the United States. The company first expanded the Mebane plant in 2000.

Samet Corporation, located in Greensboro, North Carolina, was selected to provide general construction services for the expansion.

Sandvik has 47,000 employees and annual sales of approximately $10.4 billion.

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