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Kershaw County OKs assignment of fee-in-lieu agreements as new U.S. owners take over former Denkai plant
Summary
Council unanimously approved a resolution assigning existing fee-in-lieu-of-tax agreements for the former Denkai facility to the purchasing parties; the new owners said the operation will be American-owned, expect roughly 50 jobs initially, and aim to continue production of copper foil.
Kershaw County Council unanimously approved a resolution on April 22 authorizing assignment of two fee-in-lieu-of-tax (FILO) agreements tied to the former Denkai America facility to the purchaser group that will operate the plant under names including Camden Copper and PMC.
County staff and economic development officials said the assignments follow negotiations with the purchaser. County economic-development staff introduced Adam Johnson, chief executive of PMC, and Colonel Wesley Spurlock, co‑founder and chief operating officer, who said they intend to operate and expand copper foil production at the Camden facility.
Jeff Burgess, a county official who helped facilitate the transaction, said the original FILO was structured in 2021 as part of an expansion plan and carried a $14 million capital figure. Burgess told the council that Denkai had invested more than $30 million at the site before the parent company filed bankruptcy and liquidated assets. The approved resolution substitutes the new sponsor(s) into the existing agreement so the facility can continue operating under U.S. ownership.
Adam Johnson said the purchase moves the facility to American ownership and that PMC expects to employ about 50 people initially. “We were asked to come and see if there was something valuable here, and we believe that there is,” Johnson told the council. Colonel Spurlock described the project as a mission-critical effort for domestic supply of a specialized copper foil used in certain manufacturing and defense-related applications.
When council members asked about the FILO terms, staff said the existing agreement runs 20 years, with a locked millage rate of 6 percent in the current agreement; a lower 4 percent rate would apply only if an investment threshold exceeded $125 million. Staff also said the county’s role has been to facilitate the transaction; the line serving the industrial park was previously funded in part by county resources but is operated by water authorities.
The council’s unanimous vote authorizes replacement of Denkai/related parties in the existing Filo agreements with the new purchaser and related entities, and delegation of ministerial steps needed to complete the assignment.
Council members and the county administrator welcomed the purchaser’s representatives and emphasized county support for local jobs and continued operations at the industrial site.
