FOR IMMEDIATE RELEASE
November 19, 1997



Jill Lawrence
VEDP
(804) 371-0049
Governor Allen Announces Magnolia Manufacturing to Build Second Carroll County Facility
-- $17 Million Investment Will Create 40 Jobs for Southwest Virginia - -


Richmond - Governor George Allen today announced that Magnolia Manufacturing Company Inc., will locate a new air-jet spinning facility in the Carroll County Industrial Park. The $17 million investment by Magnolia's sister company, Parkdale Mills, will create 40 new jobs in Southwest Virginia, and will be Magnolia's second manufacturing operation in Carroll County.

"Over two years ago, Virginia fought a heated battle against North Carolina and Alabama for the initial Magnolia Manufacturing plant, and today I'm pleased to announce that we have been victorious again," said Governor Allen. "It's no surprise that Southwest Virginia's committed workforce has sewn up another outstanding victory in economic development for the Commonwealth. We welcome Magnolia Manufacturing's new facility as further evidence that Virginia's pro-business climate continues to foster success."

Governor Allen approved a $100,000 grant from the Governor's Opportunity Fund for Carroll County to assist Magnolia with site preparation, and the Virginia Department of Business Assistance will provide workforce training services.

Magnolia Manufacturing produces cones of yarn which are sold to the knitting and weaving industries. The new 115,000-square-foot facility, named Parkdale's Mountain Air Spinning Plant, will manufacture products which will be used in the weaving of cloth for a variety of soft goods such as sheeting and print cloth, and is expected to begin production as early as Spring 1998. Magnolia currently operates a plant located in the Earnest E. Gardner Industrial Park which is expected to employ 350 people within the next eight months.

"Virginia has proved that it is a pro-business state," said Daniel Nation, executive vice president and chief operating officer of Magnolia Manufacturing. "We credit Southwest Virginia's educated workforce as the primary factor in our decision to locate this new facility in Carroll County."

The Virginia Economic Development Partnership, the Mount Rogers Partnership and Carroll County assisted the company with its decision. Virginia competed with North and South Carolina for the air-jet spinning facility.



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