Barry Matherly hands county attorney Jeff Taylor
information on Magna-Tech, an Indiana Company coming
to Lincoln County. Photo by Jon Mayhew/The Carolina Scoop

INDIANA COMPANY COMING TO LINCOLN COUNTY
Commissioners Approve Incentive Grant to Magna-Tech

By Jon Mayhew

LINCOLNTON -- An Indiana-based provider of vacuum impregnation of castings is planning to open a plant in Lincoln County, bringing as many as 40 jobs to Lincolnton.

Lincoln Economic Development Association president Barry Matherly told Lincoln County Commissioners Monday night the company is moving into a shell building at the Lincoln County Industrial Park.

"The company currently has five facilities in the United States, one in Canada and one in Mexico," said Matherly.

Matherly explained what the company does.

"When metal parts are made, they are casted with metal dings, which reduce the life of the part," said Matherly. "Magna-Tech sucks out the air of those parts, replacing the air with resin and extending the life of the part."

Matherly said at one time, the company was planning to create about 15 jobs. The number, as of Monday afternoon, jumped to at least 20 jobs.

"I'm hoping they'll create as many as 40 jobs," said Matherly.

The announcement brings good economic news to Lincoln County, recently hit by news of two major employers laying off a large number of workers.

According to the Employment Security Commission of Lincoln County, both Robert Bosch Tool Corporation and Cochrane Furniture are laying off as many as 300 workers total.

The news also comes amid HOF Textiles announced expansion.

Of the $2.5 million investment made by Magna-Tech, $2.2 million is eligible for an economic incentive grant.

At the Monday night commissioners meeting, commissioners unanimously approved an $8,178 grant payment per year over a five year perod.

Magna-Tech Manufacturing in Muncie, IN, was established in 1987 as a provider of vacuum impregnation of castings. In 1991, Magna-Tech was acquired by a partnership with the goal to expand and grow the business into the industry leader of impregnation services. Since that time, the Muncie plant (now Corporate headquarters) has grown from operating one impregnation machine in an outdated facility into a company with multiple locations, which include Sheboygan, WI; Guaymas, Sonora, Mexico; Glassport, PA; Greenville, SC; Sylacauga, AL; and Stoney Creek, Ontario, Canada . We operate multiple processing lines while utilizing an array of vacuum impregnation processes and a variety of impregnation sealants. In addition to our impregnation services, Magna-Tech has diversified into other services including: Thermal Deburring, Conversion Coating, Tool and Die Coating, Derusting