Related Keywords: NMTC financing, SarlaFlex, yarn and thread facility
Sarla Performance Fibers, based in Mumbai, India, under the name SarlaFlex Inc. to redevelop a manufacturing facility in rural South Carolina into the company's first U.S. based yarn and thread plant has secured $13 million in New Markets Tax Credit (NMTC) allocation from Los Angeles-based National New Markets Fund, LLC (NNMF). U.S. Bank serves as the tax credit investor, capitalizing the allocation.
SarlaFlex Inc began installing equipment and rehabilitating the facility in early 2013 . The first phase of the new plant is expected to be fully operational in the first quarter of 2014.
