en.Wedoany.com Reported - Mitsubishi Chemical Advanced Materials Inc. plans to invest $20.3 million to expand its production operations in Reading, Pennsylvania, USA.
The project will involve renovating existing facilities, constructing an adjacent building, and installing new machinery and equipment to support the production of specialty engineering thermoplastics and composite materials.
The company also plans to establish a Center of Excellence for general and advanced engineering plastic extrusion at the site.
The expansion is expected to create 42 jobs over three years and retain 441 existing full-time positions.
The Pennsylvania Department of Community and Economic Development provided $500,000 in Pennsylvania First funding to support the project.
Mitsubishi Chemical Advanced Materials Inc., a subsidiary of Japan's Mitsubishi Chemical Group, is engaged in the manufacturing and processing of high-performance thermoplastics and composite materials.
