Tungsten Carbide Coating Manufacturer to Open Facility in Henry County

A manufacturer of advanced surface coatings, will invest $7.25 million to establish its first Virginia operation in Henry County.

The company will create 29 new jobs with an average salary of $50,000, which is well-above the average prevailing wage in the region, Gov. Terry McAuliffe said.

Virginia successfully competed against Oklahoma and Texas for the project.

It is a provider of advanced tungsten carbide-based coatings that significantly increase the life of critical metal parts operating in abrasive, erosive, corrosive and chemically aggressive environments. The company was formed in 2000 by a team of U.K.-led venture capitalists to develop and commercialize a process that was invented by scientists at Moscow State University.

McAuliffe approved a $150,000 grant from the Governor’s Opportunity Fund to assist the county with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $170,000 in Tobacco Region Opportunity Funds.

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