FOR IMMEDIATE RELEASE
July 10, 1997



Jill Lawrence
VEDP
(804) 371-0049
Governor Allen Attends Toray Plastics Grand Opening
-- Japanese Manufacturer Invests $50 Million in Warren County --


Front Royal - Governor George Allen today attended the grand opening ceremonies of Toray Plastics' new foam extrusion plant in Warren County. The ceremonies today consisted of a tree-planting dedication and a ribbon-cutting celebration. Approximately 115 employees will work in the $50 million facility to manufacture polyolefin foam called TORAYPEF which is used for interior automobile parts such as dashboards.

"A highly respected international company, Toray Plastics' investment in Virginia is a tremendous vote of confidence in our citizens' work ethic, Virginia's business climate and Warren County's flourishing future," said Governor Allen. "Toray's investment in our Commonwealth is also good news for our ports. This new facility -- adjacent to the Virginia Inland Port -- means Toray Plastics will be a substantial customer of our ports which serve as a gateway to North America."

Headquartered in Rhode Island, Toray Plastics is an American subsidiary of Tokyo's Toray Industries, Inc. Since 1926, Toray has grown to become Japan's largest manufacturer of synthetic fibers, high-performance films, engineering plastics and carbon fibers. The polyolefin foam produced at the Warren County facility is in high demand from the automobile industry for car interiors due to its impressive sculpting and molding qualities.

As a new member of Virginia's corporate community, Toray Plastics joins 73 other Japanese companies in the Commonwealth who have invested a total of $3 billion and created approximately 10,600 jobs.

"We at Toray have been impressed with the business-friendly atmosphere that is promoted by this state, county and town," said Takuya Takayama, executive vice president of Toray Industries, Inc. "Our success in Virginia and ultimately the growth of this operation will translate into additional higher-paying job opportunities for the people of this area."

Governor Allen presented a $500,000 check from the Governor's Opportunity Fund to Warren County in March 1995 for site development of the Toray facility. The Virginia Economic Development Partnership, the Front Royal-Warren County Economic Development Authority, Warren County and the Town of Front Royal assisted the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.



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