January 28, 1998

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Governor Gilmore Hails Cresstale's Location to Virginia
-- Company to Invest $6 Million, Create 175 New Jobs - -

City of Franklin - Virginia Governor Jim Gilmore today announced the decision by Cresstale Limited to locate its first manufacturing plant outside of England in the City of Franklin. The decision will result in an investment of $6 million and will initially create 175 new jobs for Virginians with employment projected to reach an excess of 400 over the next four years. Cresstale will occupy an existing shell building in Franklin's Pretlow Industrial Park this July.

"I am pleased to welcome a respected corporate citizen such as Cresstale Limited to Virginia," Governor Gilmore said. "As I present the first grant from the Governor's Opportunity Fund from this administration, Virginia continues to strengthen its ties to the international business community." Virginia successfully competed with North Carolina, Maryland, New Jersey, Delaware, and Pennsylvania for the investment.

Cresstale Limited is a British family-owned manufacturer of lipstick containers and compact cases for the cosmetics industry. The company employs approximately 600 people in England. Cresstale's largest customers include Avon and Proctor & Gamble. In 1996, the company received a business excellence award from Avon as well as the Teesside Company of the Year Award, presented by then British Prime Minister John Major.

"Our company has never experienced the kind of pro-business cooperation and assistance from any government like that of Virginia and the City of Franklin," Peter Minto, managing director of Cresstale Limited, said. "We have looked extensively for sites in the United States and we selected Virginia because of its strategic location and skilled workforce."

Governor Gilmore approved a $200,000 grant from the Governor's Opportunity Fund to assist the City of Franklin with site preparation. The Virginia Economic Development Partnership, the Franklin/Southampton Economic Development Commission and the City of Franklin worked together to assist the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.

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