July 30, 1998

Lila White
(804) 692-3110

Howard Blair, General Manager
Extraction Technologies
(804) 763-1165
Jill Lawrence
(804) 371-0049
Governor Announces Extraction Technologies' Decision to Build in Virginia
-- $10 million investment brings 65 jobs to Brunswick County -

Lawrenceville - Governor Jim Gilmore today announced that Extraction Technologies will locate a new facility in Brunswick County. The new 82,500-square-foot plastic recycling plant, which will be built in two phases, will bring a $10 million investment to Virginia and create 65 new jobs by the year 2002. The Governor awarded $100,000 from the Governor's Opportunity Fund to the county to assist with site preparation. Virginia successfully competed with Tennessee, Alabama and North Carolina for the new investment.

"It is very exciting to welcome Extraction Technologies to Virginia," said Governor Gilmore. "It is the first company of this kind in the United States, and I am looking forward to watching it grow."

Extraction Technologies, founded in Chesterfield County in 1996, reclaims polyethylene and paper fiber for resale by reprocessing poly coated paperboard and other waste which contains polyethylene recovered from hydropulping operations. Extraction has a six-year contract with Trex Company, LLC, for the sale of 36 million pounds annually of reprocessed polyethylene to use for manufacturing of Trex, a wood substitute. The company chose Virginia because the location is in close proximity to Trex Company and rail access is readily available.

"We are very happy to be in Brunswick County, Virginia," said Howard Blair, General Manager of Extraction Technologies. "To date, we have been on the receiving end of the excellent hospitality and efforts of the Brunswick County Industrial Development Authority, the Board of Supervisors and other county and state officials. We look forward to giving back to this fine community."

"Extraction Technologies is going to become a very important part of Virginia's future," said Secretary of Commerce and Trade Barry E. DuVal. "Wood substitutes are becoming more and more necessary in today's marketplace, and Extraction is making them a realistic alternative."

The Virginia Economic Development Partnership, the Brunswick County Office of Economic Development, the Brunswick County Industrial Development Authority and the Lake Country Marketing Council assisted Extraction Technologies with its decision. The Virginia Department of Business Assistance will provide workforce training services. Extraction will receive a working capital loan from the Virginia Department of Housing and Community Development. In addition, the Brunswick County Industrial Development Authority issued a $10 million industrial development bond for the project.

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