Custom Alloy Corporation (CAC), a heavy manufacturer of pipe fittings and forgings has selected Stanly County for a new industrial operation, creating 40 jobs, Governor Roy Cooper announced today. The company will invest $8.1 million in a facility located in Badin that will produce products for the U.S. Navy.
“North Carolina’s rural locations provide the perfect home for manufacturers of every stripe,” said Governor Cooper. “It’s great that Custom Alloy Corporation has chosen to continue their important work for our U.S. Navy right here in North Carolina, the most military-friendly state in the nation.”
Custom Alloy Corporation is a family-owned company that manufacturers pipe fittings and forgings for many specialized markets, including power generation, petrochemical, refining, gas transmission, subsea, aerospace, mining, nuclear marine, and defense and military. Some of the company’s forgings can reach up to 100,000 pounds in size. CAC also manufactures critical components for U.S. Navy submarines and aircraft carriers. The company’s new facility in Stanly County will become home for CAC’s Navy Fitting Product Line and new Specialty Pipe Product Line and will enable the company to provide the military with faster deliveries and increased capacity, which will lead to less turbulence in the supply chain for these important components.
“We would like to thank all North Carolina economic development members for their hospitality and hard work,” said company president Adam M. Ambielli. “Custom Alloy has a rich history of manufacturing, and we are a proud family owned business. We’re excited to be part of the North Carolina family.”
“North Carolina continues to prove its value to heavy equipment manufacturers,” said North Carolina Commerce Secretary Machelle Baker Sanders. “Our focus on education and training programs helps build the reliable pool of skilled workers these companies need to be successful.”
While salaries will vary by position, the company’s new jobs will yield an average wage of $42,458. The Stanly County average annual wage is $35,420.
A performance-based grant of $100,000 from the One North Carolina Fund will help facilitate CAC’s expansion in Stanly County. The OneNC 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 OneNC grants require a matching grant from local governments and any award is contingent upon that condition being met.
“We welcome Custom Alloy Corporation to Stanly County” said N.C. Representative Ben Moss, Jr. “We’re excited to see these new jobs come to our region and we appreciate the important work this company will be undertaking in support of our nation’s defense.”
“Many people and local organizations worked together behind the scenes to make this project possible,” said N.C. Senator Carl Ford. “Everyone in Stanly County now stands ready to offer continued support for Custom Alloy Corporation as they begin manufacturing operations in Badin.”
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, Duke Energy, Piedmont Natural Gas, Stanly Community College, the Town of Badin, Stanly County and the Stanly County Economic Development Commission.