A manufacturer of pigment dispersions, specialty inks and coatings, today announced plans to establish its first South Carolina operations with a $7.2 million investment in Spartanburg County.
The Pan Technology Inc. project will create 72 new jobs, according to a news release from the South Carolina Commerce Department.
Headquartered in Carlstadt, N.J., Pan Technology specializes in manufacturing colorants, coatings and a wide variety of related specialty products for the paint and coatings, furniture, automotive, ink, construction and cosmetic industries, the news release said.
The company can make product batches as small as five gallons, according to its website.
“We are very excited to have the opportunity to expand our business with the help from the talented people of South Carolina,” company President Michael Rossomando said in the release. “It’s a privilege to become part of Spartanburg County where we look forward to developing and expanding our products portfolio, which is diverse, sustainable and specialized to meet the customer's objective.”
Pan Technology plans to build a new facility at 109 Belton Drive in Spartanburg. It will include manufacturing, lab and warehouse operations, the release said.
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“We are grateful and excited when Spartanburg County is the chosen location for a business to expand its statewide options,” Spartanburg County Councilman and Economic Development Committee Chairman David Britt said in the release. “Pan Technology couldn’t have picked a better location to align with their core businesses. In Spartanburg County, they’ve found a supportive partner to accommodate their mission and future growth. We welcome them to the Spartanburg team.”
Operations are expected to be online by the end of 2023.
The Commerce Departmenent’s Coordinating Council for Economic Development approved job development credits related to this project.
“South Carolina’s manufacturing industry continues to play an important role in our economy,” Secretary of Commerce Harry M. Lightsey III said in the release. “Because of companies like Pan Technology, we are further diversifying this sector while also providing unique opportunities within the state.”