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American Converting to Move Operation to Lincoln County

June 23, 2005

American Converting announced today it will invest $1,200,000 and move its operations to Lincoln County. The company currently leases a facility in Newton, North Carolina and felt the need for a permanent location. After a long search, the company purchased the 90,390 square foot Haworth building, which is located on Burris Boulevard in Lincolnton. The company expects to initially employ 20 and is scheduled to be operational on July 1, 2005.

American Converting custom converts paper and paper board into various shapes and sizes. Started in 2003 by Ted Varberg and Tom Eubanks, the partners have over fifty years experience in the paper industry.

The company is excited about becoming part of the Lincoln community. According to Ted Varberg, Vice President, the Haworth building was the perfect building on a great site. The building, along with low taxes, made Lincoln the best location for their business.

American Converting will be the first paper converter to operate in Lincoln County. “This will continue the trend of diversifying our local economy by adding unique companies in new economic sectors,” stated Barry Matherly, Executive Director of Lincoln Economic Development Association. Other recent companies in new sectors include Australian Manufacturing – licorice; Doug Herbert Racing – Top Fuel drag racing; CX Systems –  electronic control panels and R.W. Garcia – tortilla chips.

Lincoln County Board of Commissioner’s chair Tom Anderson added, “We are pleased that American Converting has selected Lincoln County as the new home for their operations. Their decision to come to Lincoln County will have the very positive effect of returning the Haworth facility as an active contributor to the county’s economy. We are certain they will find Lincoln County a business friendly environment and they will enjoy future growth and success as a result of this decision.”