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 Economic Development News 
Monday, May 13 2019

Wadersboro, NC -- Loba-Wakol, a supplier to the wood and resilient flooring industry, will expand its operations in North Carolina, establishing a new distribution and warehouse facility in Anson County and creating 24 jobs. The company plans to invest $6.6 million in Wadesboro.

The average annual wage of the new jobs announced today will be $43,750. The average wage in Anson County is currently $33,358.

“North Carolina offers an ideal location, skilled workforce, and strong transportation networks for international companies looking to expand their North American operations,” said Gov. Roy Cooper. “We’re proud to welcome this company and these new jobs to our state.”

Loba-Wakolis the North American subsidiary of two respected German manufacturing companies, Loba and Wakol. Both companies have been considered leading suppliers for adhesives and finishes for nearly 100 years, offering innovative solutions and systems for a range of industries. They manufacture a wide range of adhesives and coatings for the flooring industry and produce products for the upholstery industry, mattress industry, and the metal packaging industry as well.

Loba and Wakol are part of the ARDEX Group of brands. ARDEX is one of the world’s market leaders in high-quality chemical building products. As a family-owned company, the company has maintained a sustainable growth course for nearly 70 years. Today, the ARDEX Group employs more than 3,000 people and is represented in over 100 countries on all continents. The Wadesboro facility will be established as a distribution and warehouse facility with room for future expansion.

“The cooperation with Anson County and the state of North Carolina provides us with an optimal opportunity to further expand our North American operations” said Ashley Carter, chief operating Officer for Loba-Wakol. “The Loba-Wakol brand enjoys a distinguished reputation and stands for technical competence, premium products and outstanding service. The extremely high level of commitment from the people involved mimics our core values and has convinced us that Anson County, North Carolina,  is the ideal partner for our organization.”

The North Carolina Department of Commerce and the Economic Development Partnership of North Carolina were instrumental in supporting the company’s decision to locate in the state.

A performance-based grant of $70,000 from the One North Carolina Fund will help support Loba-Wakol’s move into Anson County. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments.

Partnering with the North Carolina Department of Commerce and the EDPNC on this project were the North Carolina General Assembly, the North Carolina Community College System, Anson County, the town of Wadesboro, and the Anson County Economic Development Partnership.

Posted by: Nicole@ExpansionSolutionsMagazine.com AT 11:15 am   |  Permalink   |  Email

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