By Rhoda Miel, Plastics News Staff
Sterling Heights, Michigan -- Auto supplier U.S. Farathane Corp. will invest $51.7 million to create a global headquarters in Auburn Hills, Michigan, creating 398 jobs.
U.S. Farathane is currently based in Sterling Heights. The company did not provide any details on its plan, but the Michigan Economic Development Corp. noted in a 15 Dec news release that the company will receive a $3.7-million tax credit to help finance the work.
USF specialises in two-shot injection moulding of functional auto parts, insert moulding, compression blow moulding and automated assembly. It also makes microcellular urethane components for suspension systems.
The company was considering alternative sites in Tennessee, Indiana and Ohio. The Michigan Economic Growth Authority also has approved a $7.2 million retention credit for keeping jobs in the state.