Manufacturer Invests $20M in Providence Facility

Manufacturer Invests $20M in Providence Facility

Umicore, a multi-billion-dollar materials technology company, will invest $20 million in its Providence manufacturing facility, a venture that will generate 100 new jobs, according to a joint announcement by Providence Mayor David Cicilline and Umicore CEO Marc Grynberg.

Umicore is a Belgian-based global producer of materials used for coating the metal-based thin film used in various electronic products like cell phones, flat screen televisions, and laptop computers.

"The investments will cement Umicore's position as a key materials producer... and is demonstrating our commitment to our customers," said Grynberg.

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The company will enter into a lease-purchase agreement with the Providence Redevelopment Agency (PRA) to secure its Sims Avenue facility in the Valley section of Providence.

"This is about supporting businesses and giving them the tools to enhance their operations, create good-paying manufacturing jobs and fuel our economy," Cicilline said.