MOSCOW (MRC) -- Synthesia Technology Inc., a leader in Polyurethane systems, polyester polyols and chemical specialties, will build a new facility in Little Rock, Arkansas, said Areadevelopment.
The USD29 million project is expected to create 50 jobs over the next three years. The location represents the company’s first U.S.-based manufacturing operation for the production of insulated products supporting the construction materials industry, according to state officials. Synthesia plans to break ground in July and begin hiring by the fourth quarter of 2022.
The project has qualified for two performance-based incentive programs through the Arkansas Economic Development Commission—the Tax Back Program and the Advantage Arkansas Program. “It is a pleasure to welcome Synthesia as they establish their first U.S. facility right here in Arkansas,” Governor Asa Hutchinson said. “With all Arkansas has to offer—our central location, our diverse infrastructure, our robust workforce, and our low cost of living, just to name a few—I am confident that Arkansas has the tools to support Synthesia as they enter U.S. markets and continue their path to success."
“We are pleased to welcome another great company to Arkansas,” Secretary Mike Preston said. “Our business community continues to expand as more and more companies come to Arkansas and see for themselves that this state is the best place to do business. It’s been a pleasure to assist Synthesia in their search for a site, and I trust that they will find central Arkansas to be the perfect fit for their new facility."
The Synthesia Technology Group is made up of a Spanish-based holding company specialized in the manufacture and commercialization of chemical products, polyester polyols and polyurethane systems for thermal and acoustic insulation and diverse industrial applications. With more than 50 years of experience, the company represents a benchmark in the residential and industrial insulation markets.
As it was written earlier, Synthesia Technology America aims to build a new, large-capacity manufacturing plant in the United States. The new polyester polyol site will produce polyols based on recycled PET technology. The project will also comprise of a systems house for producing blend polyols and PU systems. Details on the exact capacity of the new project, the predicted start-up date, or the chosen location were not yet disclosed.