Reul Inc. will buy division, add 50 new jobs
By Matthew Whittle
Published in News on September 14, 2007 2:09 PM
Reul Inc. announced Thursday that it will expand its Goldsboro facility, creating 50 new jobs and investing $2 million in the community over the next three years.
As part of its expansion, the company also is buying the Traction Power Division of Impulse Manufacturing.
Impulse, a Mount Olive business, had planned to discontinue the division, which manufactures equipment for mass transportation, including trolleys, monorails and commuter rails.
Because two other out-of-state companies also were looking to acquire the Traction Power Division, a $100,000 One North Carolina Fund grant was provided by Gov. Mike Easley's office to help Reul keep those jobs in Wayne County.
Traction Power's equipment and assets are currently being moved into Reul's Goldsboro facility, where employees will earn an average weekly wage of $1,017 -- nearly double the county average of $519 per week.
Company vice president and general manager, Larry Davis, said that he and Sue Davis decided to found Reul in Goldsboro for several reasons -- "a medium-size city with big city attractions, a good labor pool with technical talent and numerous colleges and universities located within commuting distance."
It's for those reasons, he continued, that they are pleased to be able to remain and grow here.
"We love it here. We enjoy living in Goldsboro. It's a great community, and we call it home," Davis said.
And, he added, while they likely would have pursued the acquisition of the Traction Power Division and expansion of their company without it, the grant given by the governor's office does make things a little bit easier.
"The money will help us expand our facilities and acquire new machinery. It would have been more difficult, I'm sure, without the grant," Davis said.
And while this particular grant is on a much smaller scale than the help given to Goodyear Tire & Rubber and Bridgestone Firestone by the General Assembly this week, it follows a trend that the governor has been encouraging.
"Reul Inc.'s decision to expand in Wayne County is proof that our business friendly climate allows existing businesses to grow and create new jobs for our state," Easley said in a written statement, pledging to continue such practices in the future.
Reul, which was founded 20 years ago, provides custom and standard products to the electrical power equipment industry, specializing in resin-based materials for outdoor and indoor use that have a high degree of durability, sustained electrical strength and resistance to the elements. Currently, it has 37 employees.
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