Nevada County Picayune and Gurdon Times Newspaper Archive

Polycarbon Plant Opens in 6 Months

Polycarbon, a California company which recently decided to open a plant in Clark County, wants to begin operating in six months.

This is what the board of the Clark County Industrial Council was told in a special meeting, Thursday, Nov. 9.

Percy Malone, CCIC president, said the company is on the fast track and wants to move quickly. In fact, he said Polycarbon set the six-month time frame to start operating.

Because of this, the board gave Malone its approval to work with the company in any way possible to make sure it can begin making its product within the time frame allowed.

This means Malone will be allowed to enter into contracts with engineers and general contractors on the construction end, and deal with the Arkansas Department of Finance Authority (ADFA) for bond money. He will also represent the CCIC with the county and state for grant funding.

"This will allow me to get Polycarbon in the building and up and running," he said.

The total package to do this is expected to be between $1.2 and $1.4 million. The CCIC will receive a grant of more than $500,000 from the Arkansas Industrial Development Commission (AIDC), while the ADFA has agreed to finance a bond for about $750,000. The remainder of the monies needed, if any, will come from bank loans. Malone said the Reuse Committee has been asked for $110,000 as well.

The bond money will be paid back under the CCIC's lease agreement with Polycarbon, which calls for a buyout at the end of 10 years. Malone said at this time the company can either buy the building for $250,000, or the CCIC will own it.

The CCIC has more than $100,000 equity in the spec building Polycarbon is leasing, while residents of Clark County actually own the land.

Brent Houston said officials with Polycarbon plan on taking applications for employment around Nov. 17 at the Clark County Employment Security Division.

Malone told the panel the company plans on landscaping the exterior of the facility, by having trees and shrubs planted. "They told us they wanted it to look nice," he said.

In other news, Rohr Industries is still on hold as far as locating to Clark County, and little has been heard from Bowater.

Bowater, however, has only a few weeks left on its lease options. These options expire at the end of the year.

Polycarbon is a subsidiary of SGL Carbon Group of Germany, and expects to hire at least 50 people locally.

The company manufactures two products: carbon and graphite fibers used in industrial applications and aerospace; and a graphite sheet used for making gaskets for the auto industry and other uses.

Company officials have said the Arkadelphia plant will make graphite sheets for gaskets.