METGLAS, INC. ANNOUNCES $4 MILLION EXPANSION TO CONWAY FACILITY
March 8, 2013 – Conway, S.C. – This week Metglas, Inc. announced their second Conway, SC facility expansion in five years. Metglas is one of the largest manufacturing companies in the area with more than 200 employees. They are one of the world’s leading producers of Amorphous Metal Ribbon. The latest expansion includes insourcing a cutting operation for their raw materials process. The company also built a raw materials building to be able to handle and sort the materials in a faster more efficient manner.
“The decision to expand again here was inevitable. We have made these two investments to the Conway facility because we believe this is a good place to do business and are committed to the community. This latest expansion allows us to do more in-house and expand our operation more efficiently,” said Dodd Smith, Metglas, Inc., President.
The Metglas expansion is one of five area expansions over the last year in Horry County. The others included AvCraft Technical Services, Frontier Communications, Native Sons and Canfor Southern Pine.
“We are excited to see one of our top manufacturing facilities in the area reinvesting in their facility once again. The expansion will bring new tax revenue to the area and is an indicator that the facility and the jobs associated with it will be here for years to come,” said Brad Lofton, MBREDC President & CEO.
In October of 2012 Metglas announced new shipping options for the company. In order to continue on their growth path they began importing steel billets through the Port of Georgetown to keep up with production. Several economic indicators such as a qualified workforce, low cost of doing business, and incentives to expand through the MBREDC are among the reasons why businesses say they are able to stay in the community and grow.
Metglas®, Inc., located in Conway, SC, is a world’s leading producer of Amorphous Metal Ribbon. In the 1970’s, Metglas, Inc. (then Allied Signal located in Morristown, NJ) pioneered the development and production of amorphous metal, a unique alloy that exhibits a structure in which the metal atoms occur in a random pattern. The key to Metglas Inc.’s proprietary manufacturing process is the rapid-solidification of molten alloy at a rate of approximately one million degrees Celsius per second.
Metglas Amorphous Metals have a unique non-crystalline structure and possess excellent physical and magnetic properties that combine strength and hardness with flexibility and toughness. Metglas and Metglas products help companies around the globe reduce operating costs, strengthen energy conservation efforts and increase application efficiency.
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SOURCE: Myrtle Beach Regional Economic Development Corporation