- Issue Time
VALDESE, NC, — January 29, 2016 — Meridian Specialty Yarn Group, Inc. (MSYG), the leading specialty yarn manufacturer in the United States and a leading producer of package dyed and space dyed yarn, announced today a major expansion of their current manufacturing operations in Valdese, North Carolina.
Construction will commence this winter on a new 113,000 SF manufacturing plant, which will be located at the company’s current manufacturing site in Valdese, North Carolina. Completion of the project, which includes renovations to the company’s existing 152,000 SF plant, is expected by early winter, 2017, and will greatly expand Meridian’s current capabilities. A small section of the existing plant will be removed and the final manufacturing operation will span 260,000 square feet of production and warehouse space. Meridian anticipates spending $8 million on the expansion.
Over the past eight years, as other US companies in the same sector have closed operations or moved overseas, MSYG has continued operations in North Carolina and has emerged a global leader.
“We believe a strong manufacturing base is crucial to the US economy and we will do all that we can to support our customers, our employees and the communities in which we operate,” said Tim Manson, president of the company.
Meridian has had operations in Valdese since 1994. Manson added that a great deal of thought, study and time went into the decision to stay in Valdese. The company currently employees 146 employees and the expansion will result in 25 additional jobs.
“We are excited about the opportunity this new investment represents for us from a business perspective, and also for the town and for our employees,” said Manson. “When we developed the business plan for the expansion, we did a great deal of due diligence with regard to the location, and concluded the best place to be is where we are. We greatly appreciate the support of the city and county in helping us though this process.”