CGT expands operations to New Braunfels with $80 million investment
CGT U.S. Limited will construct a new manufacturing facility in New Braunfels. The Canadian company, which produces coated fabrics and films for the automotive industry, plans to invest $80 million and create at least 275 new jobs in the Texas Hill Country community, Gov. Gregg Abbott announced today.
The project will reshore part of the company’s manufacturing from China and increase North American capacity.
A $2 million Texas Enterprise Fund grant was offered to CGT to bring the company to New Braunfels, which is roughly 50 miles south of Austin. Mike Meek, president of the Greater New Braunfels Chamber of Commerce, said the deal “kicks off a new industrial park in our area.”
CGT CEO Craig Richardson said the new facility will provide an additional source for the company’s premium vinyl cover stock for its automotive and industrial customers. Richardson added in a statement that CGT officials “carefully evaluated a number of potential sites in the Southern U.S.” and were impressed with the advantages in Texas — particularly New Braunfels.