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Mo. maker of carbon fiber plans expansion

Mo. maker of carbon fiber plans expansion

July 25th, 2012 in News

ST. PETERS, Mo. (AP) - A St. Louis-based company that makes and sells carbon fiber worldwide is planning a $15 million expansion at a suburban plant.

Gov. Jay Nixon was on hand Wednesday for the announcement at Zoltek Corp.'s recently renovated plant in St. Peters. Zoltek says the expansion is expected to create 155 new jobs over the next three years.

Missouri officials have authorized a $3.3 million incentive package for the company, which includes more than $3 million worth of tax credits through the state's Quality Jobs and BUILD programs. Officials also have authorized $75,000 for funding.

Zoltek has manufacturing facilities in St. Peters, St. Charles, Texas, Hungary and Mexico. Its carbon fiber is used in products including wind turbines, sporting goods, motor vehicles and offshore drilling equipment.