Velta secures $60M for US titanium manufacturing facility

URLhttps://www.metal-am.com/velta-secures-60m-for-us-
SourceMetal AM
Date Published11/28/2024

Additional Reshoring Information:

Company/Division name Velta LLC
Parent companyVelta Holding U.S. Inc.
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):230
Year reshoring announced:2024
Year reshoring implemented or to be implemented:2025
Country(ies) from which reshored:Ukraine
If relevant, work nearshored to:-
Industry(ies):Castings/Foundries - Subset of Primary Metal Products, Primary Metal Products (not including Foundries and Castings)
Product(s) reshoredtitanium powder and alloys
What non-domestic negative factors made offshoring less attractive?Supply chain interruption
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Impact on domestic economy
Government Incentive dollar amount:60,000,000
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