News Item Details
Capco To Expand in Botetourt County
Company adding 30 high-paying jobs
Fincastle, VA – Capco® Machinery Systems Chairman, President and CEO Edward West 3rd and Botetourt County officials today announced a $4.2 million expansion of the company’s manufacturing plant in EastPark Commerce Center. Thirty new jobs for engineers, mechanical and electrical technicians and machinists will be created at an average wage of $60,000 per year. The company chose to expand at its headquarters in Botetourt rather than construct a new plant in China.
Capco® manufactures CNC (computer numerical control) roll grinding machines, brand name Capco® SuperGrinders™ that are used to grind rolls which are installed in rolling mills used to produce the highest quality foil, sheet and plate for steel, stainless steel, aluminum, copper, brass, nickel, titanium and other high technology metals. The metal sheets (coils) are produced by leading companies worldwide such as Alcoa, Allegheny Ludlum, AK Steel, BaoSteel, China Aluminum, China Steel, Arcelor Mittal, Thyssen Krupp, US Steel, etc. for aircraft sheet and plate, aluminum foil, can sheet and plate, automotive sheet, copper foil and sheet for electronics, stainless steel for appliances and architectural products, titanium sheet for aircraft and other high technology metals for a wide range of industries.
“Capco® exports 95 percent of its products outside of the United States, so the option of expanding overseas was tempting, but my desire to stay in Botetourt County and keep the jobs in the US was much stronger,” said West.
The expansion will provide Capco® with a two-fold increase in the machining and assembly areas of its manufacturing facilities. Production output of Capco® SuperGrinders™ will double. Construction will start on November 11. The projected construction completion date is by August 8, 2014.
“We are so proud of the success Edward and his employees have achieved through their continuous innovations in technology and customer service over their 21 year history in Botetourt County.” said Board of Supervisors Chairman Steve Clinton. “They are carrying the ‘Made in Botetourt County’ brand around the globe and we are pleased to play a role in helping them do that.”
Botetourt County is providing a local performance grant up to $99,900 over four years to reimburse a portion of the company’s investment costs. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the Company’s recruitment and training activities.
County Administrator Kathleen Guzi described the expansion as a win-win-win. “The County will realize increased tax revenues and increased diversification of its tax base. Capco® is able to expand on-site and avoid the complications of an overseas location, and there are new, high-quality job opportunities right at home.”\
For more information, contact
Kathleen Guzi, Botetourt County Administrator
Edward E. West, III, Chairman & CEO
Capco® Machinery Systems Inc.