Service Center Metals, a Prince George County-based manufacturer of aluminum extrusions, will invest $45.2 million to expand its manufacturing operations.
The company plans to hire for 58 new jobs, state officials announced late Wednesday.
The expansion will be the fourth for Service Center Metals since it started operations in 2003 in the SouthPoint Business Park in Prince George.
With about 200 employees, the company makes aluminum rods, bars and tubing used in such end markets as the construction, transportation, machinery and equipment industries. The company sells aluminum extrusions to metal service centers that supply those industries.
Hiring for the new jobs likely will start in the third quarter of this year and take about nine months, said Ramon Puzon, Service Center Metals’ human resources manager.
The investment includes adding a third aluminum extrusion press at the company’s plant.
“It is going to help us increase our production capacity,” Puzon said.
Gov. Terry McAuliffe, who made the announcement during his State of the Commonwealth speech, said Virginia competed against Indiana for the expansion project.
As incentives to the company, McAuliffe agreed to provide a $200,000 grant from the Commonwealth’s Opportunity Fund and a $400,000 performance-based grant from the Virginia Investment Partnership program.
Service Center Metals was founded in 2002 by Scott Kelley, Randy Weis and Chip Dollins, who had been employees of Henrico County-based Reynolds Metals Co. before its acquisition by Alcoa Inc. in 2000.