- Associated Press - Thursday, October 8, 2015

WYTHEVILLE, Va. (AP) - A Swiss company will spend $3.1 million to expand its Wytheville transformer manufacturing plant and add 79 jobs.

Media outlets report that Gov. Terry McAuliffe announced the expansion Wednesday.

Schaffner MTC Transformers employs 72 people at the plant. Company President Matthew Clarke says more of the expansion funding will be spent on machinery, while an engineering wing will be added to the plant.

Schaffner Holding AG acquired MTC Transformers in 2011.

Schaffner CEO Alexander Hagemann says the investment “marks our determination to accelerate Schaffner’s growth in North America.”

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