July 07, 1998

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Hollingsworth & Vose Company Expands in Floyd County
-- $4.8 million addition to create 25 new jobs - -

Richmond - Governor Jim Gilmore today announced that Hollingsworth & Vose Company will invest $4.8 million to expand its Floyd County plant. Governor Gilmore approved a $50,000 grant from the Governor's Opportunity Fund to assist the county with the expansion, which will create 25 new jobs over the next three years.

"The Hollingsworth & Vose facility has been an important employer in Floyd for many years," said Governor Gilmore. "I am delighted that they have chosen to expand here, and I am sure they will continue to prosper in the New River Valley."

The Hollingsworth & Vose Company has six U.S. manufacturing locations, one in the United Kingdom, and a joint venture plant in Mexico. The company specializes in providing technically oriented, high quality, fibrous composite materials primarily for filtration and battery operations. The Floyd plant produces carded and meltblown nonwoven composites for filtration and other specialty industrial applications.

The company has been in Floyd County since 1976. Virginia successfully competed with New York and Georgia for the 44,800-square-foot expansion, which will add a third meltblown line to the existing plant. The Hollingsworth & Vose Company, headquartered in East Walpole, Massachusetts, is one of the world's leading producers of meltblown composite materials.

"We are very pleased with the decision to expand our Floyd operations and are very appreciative of all the support that helped to make this possible," said John Hunsinger, Plant Manager of the Hollingsworth & Vose Company - Floyd.

The Virginia Economic Development Partnership, Floyd County and American Electric Power assisted the Hollingsworth & Vose Company in their decision to expand here. The Virginia Department of Business Assistance will provide workforce training services.

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