FOR IMMEDIATE RELEASE
May 10, 2011

Jeff Caldwell
Jeff.Caldwell@Governor.Virginia.Gov
(804) 225-4260


Nick Stergioulas
Safety Technologies, Inc.
(571) 239-5719
Suzanne West
VEDP
(804) 545-5806
Governor McDonnell Announces 61 New Jobs in Virginia
-Safety Technologies, Inc. to create 46 jobs in Lunenburg County; 15 executive jobs in Fairfax County-


RICHMOND - Governor Bob McDonnell announced today that Safety Technologies, Inc. (STI), a technology leader in providing a permanent, cost-efficient solution for any type of fuel storage tank against explosions, blasts and fire, will invest $5.89 million to open a manufacturing facility in Lunenburg County, creating 46 new jobs; and expand its Administrative office in Fairfax County, where the company is based, creating 15 new jobs.

The company holds the exclusive marketing and manufacturing rights for the Detonation Suppression System (DSS™) within North America and marketing/distribution rights to a number of other countries. DSS™ is a unique patented technology developed to prevent explosions and mitigate blasts and the spread of fires in any fuel storage system. The DSS technology also provides significant environmental and energy savings. It cuts in half CO2 emissions into the environment and also it provides energy savings by reducing fuel loss in storage fuel tanks caused by fuel evaporation. STI’s top markets include defense, homeland security, state and local government, energy, chemical, transportation and other government and industrial sectors. The company’s new operation in Lunenburg County will manufacture an aluminum foil product used in the DSS™. Virginia successfully competed against Alabama, Maryland, New Mexico and Pennsylvania for the project.

Speaking about today’s announcement, Governor McDonnell said, “This competitive project is tremendous news for the Commonwealth. STI is a Virginia-headquartered company that manufactures a life-saving product critical in areas of warfare and terrorism. The company chose to also locate its new manufacturing facility in Virginia, and Lunenburg County’s trained manufacturing workforce and proximity to the Port of Virginia for international sales sealed the deal. Fairfax County is the ideal base to expand STI’s administrative office due to its access to federal clients. An overall gain of 61 new jobs and the growth of a Virginia company is great news for our Commonwealth and our citizens.”

“Lunenburg County’s infrastructure and the availability of a shell building that could be outfitted to meet STI’s needs added to Virginia’s advantage over other states,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “The company’s DSS™ product is one of a kind, and we are proud that a Virginia export helps protect both military troops and civilians nationally and overseas.”

STI is a U.S. company registered in the state of Virginia. Its product, DSS™, will defeat enemy or terrorist attacks intended to cause the explosion of any fuel storage tank or fuel tanker. This explosion-suppression technology defeats conventional explosives, incendiary weapons or other attack modes that can have catastrophic consequences, including the loss of lives, disruption of operations, destruction of critical assets, financial losses, and/or environmental disasters. In addition, it provides significant environmental benefits by reducing hydrocarbon emissions as well as energy savings by reducing fuel evaporation loss.

According to Dr. Nick Stergioulas, President and CEO of the company, “Virginia is an ideal location for business. The Commonwealth offers a strong manufacturing base, the best access to domestic and global markets, and the cost of doing business and quality of workforce are among the best in the country. We chose Lunenburg County for our manufacturing facility because of its location, its hardworking workforce and the overall support we got from the local community. We found the location to be ideal due to its proximity to the major Virginia ports and highways, the proximity to Northern Virginia and the availability of suitable workforce that can fulfill our manufacturing needs. We are also very appreciative of the tremendous support we have received from the Virginia Economic Development Partnership, Lunenburg County, Fairfax County, the Virginia Tobacco Indemnification and Community Revitalization Commission, and the Virginia Department of Business Assistance. Their assistance has far exceeded our expectations.”

The Virginia Economic Development Partnership worked with Lunenburg County and Fairfax County to secure the project for Virginia. Governor McDonnell approved a $100,000 grant from the Governor’s Opportunity Fund to assist Lunenburg County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $160,000 in Tobacco Region Opportunity Funds for the project. The company is eligible to participate in the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment and training activities.

Mr. Wayne Hoover, Chairman of the Board of Supervisors of Lunenburg County wishes to welcome Safety Technologies, Inc. to our community. “The joint efforts of all segments of government in Lunenburg County, plus a group of local investors have come to fruition in an exciting way. The coordination efforts of VEDP and our economic development staff to bring together the state and its incentives and grants, the Tobacco Commission, the investors, the local assets, and STI are to be commended. Placing this business that will create good-paying jobs in a building that has remained vacant for many years is a wonderful and revitalizing accomplishment. Safety Technologies, Inc. with its life-saving detonation suppression system product is a company that Lunenburg and Virginia will be proud to call their own.”

"I am delighted that the Tobacco Commission could play a part in helping Safety Technologies, Inc. locate a manufacturing facility in Lunenburg County," said Delegate Tommy Wright, a member of the Virginia Tobacco Indemnification and Community Revitalization Commission. "Their investment of $5.89 million will create much needed jobs for Lunenburg. This type of cooperative thinking will help make a real difference in the economic landscape of Southside Virginia."

“STI is an excellent demonstration of how the growth of a company in Fairfax County can also benefit another part of the Commonwealth,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “Virginia is a great place to conduct a wide variety of business operations.”

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