SHERWOOD — Custom Aircraft Cabinets announced a $5.9 million expansion at its new manufacturing plant here Friday and company officials said they expect to add 150 new jobs.

"This is breaking the trend and breaking the mold," Gov. Mike Beebe said during a news conference at the facility, a former National Home Center store that is being renovated to house CAC.

The company, founded in North Little Rock in 1989, will move from its current location when renovations are completed.

The company specializes in woodworking and upholstery for private, corporate and head-of-state aircraft companies globally.

Beebe said most of the airline industry, particularly companies specializing in manufacturing corporate aircrafts, are struggling and described CAC’s expansion as "remarkable."

"This is another success story for a homegrown company that its now ready to double its work force and continue to thrive," he said.

Beebe said the hourly wage for the 150 new jobs will be between $15 to $20 an hour. The company currently employs about 140.

CAC co-owners Paul Reesnes and Mike Gueringer both spoke at the event, saying that expansion will allow the company to better serve its existing clientele and to recruit new customers.

Reesnes and Gueringer also said that the expansion also will benefit CAC’s sister company, Reliable Fire Protection, which is expected to add about 20 additional jobs at the site the two firms share.

To help with the expansion, CAC received a 1 percent income-tax credit of payroll for new jobs, tax refunds on some building materials and about $630,000 from the governor’s Quick Action Closing Fund.