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MORGANTON, N.C. - A supplier for the troubled U.S. auto industry plans to expand the North Carolina plant where it makes components for truck axles into a North American hub.
A state committee on Thursday approved incentives of up to $2 million for Sypris Technologies Inc. The subsidiary of Louisville, Ky.-based Sypris Solutions Inc. plans to invest $25.4 million to expand its Morganton manufacturing center and add 203 jobs by the end of 2013. The plant now employs 166.
Sypris Technologies President Sergio de Carvalho said the move consolidates some operations and makes Morganton a major North American operations hub.
Parent-company Sypris Solutions also makes aerospace and defense electronics.
Burke is one of North Carolina's 40 most distressed counties.
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