by Jordan Green

Steel processor to expand and add jobs in Guilford

Coilplus, a flat rolled-steel processor, will invest $12.7 million to double the capacity of its Greensboro plant and create 23 new jobs, Gov. Bev Perdue announced on Monday. Coilplus launched in Alabama in 1985 and has grown to nine plants in the United States. A sister company operates two plants in Mexico. The steel processor is owned by Mitsubishi and Sojitz corporations. The Greensboro Coilplus facility provides steel to markets in North Carolina and South Carolina, and General Manager Bill Hudson told the Greensboro City Council earlier this month that the expansion will prevent incursions into the market by Midwest steel producers. The new jobs will average $42,947 per year plus benefits, above Guilford County’s average annual wage of $39,520. The expansion will be subsidized by local and state taxpayers through a $50,000 grant from the One North Carolina Fund. The city council approved an incentives grant of $160,463 to Coilplus on Nov. 1.