Cascades Inc., a company that makes towels from recyclable materials, announced that it will invest $58 million in overhauling its Wagram, North Carolina, plant.

The company plans to modernize the plant and add new tissue converting equipment as part of the capital expenditure previously announced by the company.

The company will install five new state-of-the-art converting lines and modernize four existing lines. The company will hire 66 full-time employees to operate the new equipment, and an additional 50 temporary jobs will be created to prepare the building and install the equipment.

“This modernization project is directly aligned with the objectives set out in our strategic plan,” said CEO Mario Plourde in the statement. “It will not only allow us to replace aging equipment with modern and efficient technology but will also improve our integration rate, increase our geographical footprint and extend our ability to serve our customers in the United States.”

Wagram is in Scotland County, which is in the southeastern part of North Carolina.

The Canada-based company is a collector of recyclable papers as well as a tissue manufacturing and conversion company in addition to providing packaging solutions. Cascades’ mission is to improve the well-being of people, communities and the planet by providing sustainable and innovative solutions that create value.

The installation of the converting lines will begin in April 2019 and will be finalized in the first quarter of 2020.

The Wagram plant produces hand towels, paper towels, bathroom tissue and napkins marketed under the Cascades PRO brand. The plant will be largely supplied by the Cascades tissue plant located 30 miles away, in Rockingham.

Upon completion of the project, the Wagram plant converting capacity will increase from 5.3 million cases per year to close to 15 million cases per year, resulting in a global capacity addition of 3 million cases.

The company’s stock fell 1 cent to $11.75 on Wednesday.