Charleston-business Smith Fasteners bought land in the South Charleston Industrial Park, but president Jim Smith said it's too soon to say whether the company will build there.

"It's still a little premature to announce," Smith said Wednesday, adding that the company had closed on the 9.5 acres in the industrial park.

The company paid $1.1 million for the land, he said.

Smith said the company would try to build but it does not have immediate plans to do so.

Smith Fasteners has been in Kanawha City since 1965. If things work out, the company could move the entire operation to South Charleston, he said.

"We're landlocked where we're at with no growth opportunities to increase the building size," he said. "We had looked [for land] for some time... South Charleston was very helpful."

South Charleston Mayor Frank Mullens announced Tuesday the company had purchased land and intended to move to the industrial park. The company has around 50 employees and wants to expand, Mullens told the city's Economic Development Authority.

Smith said the company has seen an increase in machine shop work related to fasteners. That aspect of the business could be the basis for any expansion the business might see, he said.

"We're still trying to put it all together so there's nothing definite at this point other than we have bought the property," Smith said.