Polymer Group, Inc. Expansion in Virginia

Company to Invest at least $65 Million and Create 41 New Jobs

RichmondPolymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) (PGI), producers of nonwoven fabrics, plans to invest at least $65 million to expand its existing facility in the City of Waynesboro. The investment would include the purchase of high-technology equipment to establish a new manufacturing line and increase production, and the expansion of the current building in order to accommodate the new line. The project would also create 41 new jobs. Virginia successfully competed against North Carolina for the project.

PGI is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwoven fabrics industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 15 manufacturing and converting facilities in nine countries throughout the world. Veronica “Ronee” Hagen is Chief Executive Officer of PGI.

The Virginia Economic Development Partnership worked with both the City of Waynesboro and the Shenandoah Valley Partnership to secure the project for Virginia. Delegate Steve Landes also assisted with the project.  Governor McDonnell approved a $750,000 grant from the Governor’s Opportunity Fund to assist Waynesboro with the project. Governor McDonnell also approved $750,000 in a performance-based grant from the Virginia Investment Partnership (VIP) program, an incentive available to existing Virginia companies. The Virginia Department of Business Assistance will provide new job training assistance through the Virginia Jobs Investment Program.

For Information: Polymer Group, Inc.

Source mfrtech.com

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