1st February 2016, Valdese, NC
Meridian Specialty Yarn Group, (MSYG), the leading specialty yarn manufacturer in the US and a leading producer of package dyed and space dyed yarn, has announced a major expansion of its current manufacturing operations in Valdese, NC.
The construction will start this winter on a new 113,000 square feet manufacturing plant, which will be located at the company’s current manufacturing site in Valdese, NC.
The completion of the project, which includes renovations to the company’s existing 152,000 square feet plant, is expected by early winter 2017 and will greatly expand Meridian’s current capabilities. The company anticipates spending US 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.
“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.
The company manufactures and dyes yarn for many industries including home furnishings and upholstery, hosiery, apparel, narrow fabrics, carpets and rugs, sewing thread, craft and industrial textiles.
At the company’s wet processing plant in Valdese, Meridian offers a wide range of yarn dyeing products, including package dyed yarn, three processes of space dyed yarn, top dyed wool, yarn printing and twisting. Today, products made by Meridian Specialty Yarn Group are found in retail and craft stores across the country, and also in carpets, furniture, window treatments, automobiles, tires, socks and more.
“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.”