Alliance Precision Plastics Acquires Molding Dynamics
Alliance Precision Plastics Corp. CEO Rocky Butler (center) outside the plant where Molding Dynamics formerly conducted business on Old Fairground Road in Spindale. Former Molding Dynamics owners Allan Kearns (left) and Clay Kearns (right), are staying on with the company.
SPINDALE — A sign proclaiming the arrival of Alliance Precision Plastics Corporation was up at the former Molding Dynamics facility Monday afternoon as the company awaited approval of industrial development grants by Rutherford County officials.
The Rutherford County Board of Commissioners gave unanimous approval of $24,000 in grants through the county's Industrial Development Investment Grant Program Tuesday morning to put a period at the end of the move.
The relocation of the Rochester, N.Y.-based Alliance Precision Plastics will mean the retention of 30 jobs in place already at the former Molding Dynamics and add an additional 24 jobs over the next three years.
“They had come in through the state department of commerce, so most of the work was done with the commerce department,” said Rutherford County Economic Development Commission Interim Director Jim Lancaster. “We did what we had to do from there as far as the incentive grants and things. There was not a whole lot of investment on our part.”
Lancaster said if not for the investment from Alliance Precision, it was his understanding that Molding Dynamics was heading toward closure. Molding Dynamics employees who were recently laid off will be given the opportunity to apply for new positions with Alliance.
According to a release from the office of North Carolina Gov. Bev Perdue, Alliance has agreed to invest at least $300,000 in the local plant over the next three years. The project also received a $48,000 grant from the One North Carolina Fund, which distributes economic-development grants statewide.
“Every day more companies are discovering that North Carolina’s history of investing in education and job training has created a workforce second to none,” Perdue said in the release. “Those investments, and our support for infrastructure and transportation improvements, have built a top notch business climate that continues to attract global corporations, including advanced manufacturers like Alliance Precision Plastics.”
Alliance was founded in 1954 and produces parts for commercial, industrial and medical companies. The company also has half-ownership in a joint venture called Alliance McAlpin NY LLC in Ramos Arizpe, Mexico.
Salaries will vary by job function, but the average annual salary for the new jobs will be around $28,000 plus benefits.
“We have been seeking the right opportunity to open a facility in North Carolina,” said Rocky Butler, CEO of Alliance Precision Plastics. “The business prospects and economic environment of the area are quite attractive to businesses such as ours."
By John Clayton
Read more: The Digital Courier - Alliance Precision Plastics acquires Dynamic Moldings