and the market responds:
Ammunition maker to invest $60M in Georgia plant, hiring 600
ELLABELL, Ga. (AP) — An Italian-owned company will invest $60 million in coastal Georgia to build a plant to make and distribute ammunition, with plans to hire 600 people.
Norma Precision will build its facility near the site of the new Hyundai electric vehicle plant in Bryan County, just northwest of the Georgia coastal city of Savannah.
In July, Italian gun maker Beretta bought Norma Precision and other ammunition makers from RUAG International, a company owned by the Swiss government, for an undisclosed price. Norma Precision had already announced that it was moving its headquarters to Georgia, setting up a factory in the Savannah suburb of Garden City.
Norma said 88 current employees in Georgia would be offered transfers. Employees will make an average of $57,000 a year, said company spokesperson Rose de Vries.
Last year, Norma Precision said it imported more than 400 containers of ammunition from factories in Europe, while also delivering more than 30 million cartridges of ammunition made in the U.S. De Vries said Norma would also export ammunition from the Georgia plant......snip