Fiber-Line Inc. Breaks Ground on New Expansion

Hickory, NC, December 12, 2008 --(PR.com)-- On December 10, Fiber-Line Inc. held a groundbreaking ceremony to celebrate its second major expansion in less than a decade. The $4.5 million building and equipment expansion will add an additional 60,000 square feet to its facility located on Performance Drive off of Tate Boulevard in Hickory, NC. Fiber-Line constructed their Hickory facility in 2002.

Headquartered in Hatfield, Pennsylvania, Fiber-Line is a converter of synthetic fibers utilizing twisting, winding, splicing and impregnation to enhance the performance of yarn for such markets as the fiber optic cable, utilities and composite material industries.

Fiber-Line’s recent sales have been strong, due to factors such as the “Fiber to Home” movement, as well as the increasing reliance upon video conferencing due to heightened transportation costs. Fiber-Line is purchasing new equipment that will not only expand upon their current production levels, but additionally incorporate new manufacturing capabilities into their facility in Hickory. Fiber-Line currently employs 34 and expects to add approximately five to ten jobs in 2009 as a result of the expansion.

“Given the current economic condition, this expansion is a testament to our owners’ vision and focus on the long term” said Kevin Sennett, the general manager for Fiber-line’s Hickory facility. “Furthermore, it is a testament to the quality and efforts of our workforce.”

The company utilized the Industrial Revenue Bond (IRB) program to finance both multi-million dollar projects. The bonds carry no financial obligation for the City of Hickory, Catawba County or the State. The money comes from private investors, but offers advantageous terms on the life of the loans.

“Fiber-Line is a solid company and it is exciting to see them grow and excel in their industry, especially during the nation’s downturn in the economy,” said Hickory Mayor Rudy Wright. “Fiber-Line is smart to use the Industrial Revenue Bond program to help them grow and we congratulate them and look forward to their continued success and growth here in Hickory.”

“The Catawba County Board of Commissioners and I are very pleased that one of our existing industries has chosen to expand operations in our county,” said Lynn Lail, vice-chair of the Board of Commissioners. “It is always good news when one of our businesses grows, but we are especially pleased because of the economic uncertainties our nation is presently facing. We appreciate Fiber-Line’s decision to grow here at home in Hickory and Catawba County.”

“We are extremely pleased that our existing industry program was able to assist Fiber-Line in bringing their expansion to fruition,” said Gary Laws, vice-chairman of the Catawba County Economic Development Corporation. “Along with significant job opportunities created over the last year by new companies, we are committed to assisting our existing industries so they can continue to provide Hickory and Catawba County with a strong economic base in these challenging times.”

Construction of the 60,000 square foot expansion is expected to be finished by late spring 2009, with hiring expected to begin shortly before the expansion is completed. Individuals wishing to apply for employment should visit Fiber-Line’s website, www.fiber-lineinc.com and check for job postings in the spring of 2009.

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