Austrian manufacturer to establish subsidiary in Botetourt
- September 15, 2011
An Austrian-based manufacturer of stainless steel tubes plans to open its first U.S. subsidiary in Botetourt County, creating 25 new jobs.
NBG Holding GmbH will spend $5 million to open Fiber Cable Technology (FCTech). Average annual wages at the facility will range from $70,000 to $80,000.
FCTech will manufacture specialty optical fiber for the oil and gas, medical, defense and aerospace markets, and optical cables for the oil and gas, defense and energy markets.
“This year we initiated a strategy to open new markets, principally in the U.S., and we are delighted to join other international companies that have found Botetourt County to combine a quality work force with low costs of doing business,” said Karl Bauer, CEO and managing director of NBG Holding and president of FCTEch.
Gov. Bob McDonnell said the investment will align with Virginia’s growth industries. “This project is a testament to the strength of Virginia’s workforce and a demonstration that our pro-business climate is recognized at the global level.”