PEMMCO expands Randolph County operation

November 14, 2011

RANDOLPH COUNTY – A company that produces parts used in machinery ranging from lawn mowers to Cadillacs unveiled a new facility in Asheboro that continues to help Randolph County recover during a tenuous economy.

PEMMCO Manufacturing Inc. held a grand opening Monday of its new, 50,000-square-foot manufacturing operation, which involved an investment of $3 million and created 28 new jobs. PEMMCO now has a work force of 55.

The company is a precision machining operation specializing in the automotive, transportation and industrial equipment industries.

The expansion of PEMMCO involved $446,405 in infrastructure grants to extend public water and sewer service to the site, according to the Randolph County Economic Development Corp.

Asheboro Mayor David Smith praised PEMMCO for its commitment to the community.

PEMMCO gained a presence in Randolph County when it purchased the former Allen Precision Industries five years ago. The company’s customers include Freightliner, Caterpillar, International Truck, Honda Lawnmowers and Eaton Corp. Since 2007, every Cadillac CTS has parts machined in Asheboro through PEMMCO, the Randolph County EDC reports.

The success of companies such as PEMMCO has allowed Randolph County to moderate its unemployment rate, though it remains high by historic standards in the wake of the Great Recession.

Randolph County recorded a 9.6 unemployment rate in September, one of the lower rates among counties in the Piedmont and below the state jobless level of 10 percent, according to N.C. Employment Security Commission figures.

Randolph County economic developers have reported gains with business growth in the wake of the recession. During the 2010-11 fiscal year, 564 new jobs were created by companies investing $206.7 million in new and expanded industrial projects, according to Randolph County EDC figures.

Source: High Point Enterprise