Adhesive and sealant manufacturer Soudal Holding NV has purchased Accumetric LLC as part of an expansion in Elizabethtown, Kentucky, according to a statement from Kentucky Gov. Steve Beshear. The company was formed in Belgium in 1966 and has grown to locations in more than 100 countries. By acquiring Accumetric, Soudal has gained a facility used to manufacture, package and market adhesives and related products.
The company is investing $21.2 million in this expansion project, which includes updating the technology and increasing the size of the 200,000-square-foot building. The updated location will be Soudal's North American headquarters.
The Kentucky Economic Development Finance Authority has preliminarily approved a tax incentive packed worth up to $1.2 million for Soudal through the state's Business Investment Program. It's also approved a tax benefit worth up to $300,000 through the state's Enterprise Investment Act.
Soudal plans to keep the 85 workers employed at the facility and create 77 new positions.
"The Commonwealth is excited to welcome Soudal to our growing international corporate community," said Beshear. "I know that the company could have located anywhere. The fact that it chose to grow in the Commonwealth is a strong testament to our pro-business climate and quality workforce."
Businesses acquiring facilities in a new location should work with manufacturing recruiters to find the most qualified candidates for its open positions.