Rock Hills InChem Corp. said it plans to create 40 jobs in Charlotte at a Steele Creek facility it has acquired from Virkler Chemical.
InChem said it will invest $15 million in the chemical manufacturing operation at 12345 Steele Creek Road and create the jobs over three years. The company bought the site from Virkler Chemical, whose owner, Howard Virkler, is retiring.
Virkler Chemical has operated at the Steele Creek site since the 1980s, Virkler said. He said it was time for him to step down.
Im 73 years old, and I have no children coming on to take it over, he said. So its the right thing to do.
Terms of the deal were not disclosed.
The Charlotte operation will become InChems third plant in the Carolinas. InChem spokesman Buck Lawrimore said the plant will make chemicals for other major, international companies looking to outsource work. He said the Steele Creek facility is 150,000 square feet on 20 acres.
Annual salaries for the new jobs will range from $40,000 to $100,000, plus benefits, Lawrimore said. The plant will employ chemical operators and engineers and chemists all manufacturing jobs, he said.
Virkler said his four employees are expected to lose their jobs in the deal.
According to a press release, InChem is the only U.S. manufacturer of phenoxy, an epoxy-like resin used in, among other things, adhesives and coatings. InChem, which is privately owned, said it has annual sales of more than $150 million. The company has two other plants, in Rock Hill and Duncan.
Virkler said his company has been hit hard over the years thanks to the decline of the textile industry, for which Virkler made chemicals.
In 2000, the company had about 130 employees, he said.
Really, Charlotte and Spartanburg and Greensboro, Burlington were the epicenters of the chemical industry for the textiles in this country, Virkler said.
Almost all those jobs are lost. It was a tragedy.