FOR IMMEDIATE RELEASE
November 13, 2002

Ellen Qualls
www.governor.state.va.us
(804) 786-2211, x2379


Nancy E. Ryan
Klöckner Pentaplast of America, Inc.
(434) 293-7718
Jill Lawrence
VEDP
(804) 371-0049
Klöckner Pentaplast To Create 108 New Jobs
-Governor Warner visits Southwest and Southside for 1,388 job announcements-


WYTHE COUNTY - Governor Mark R.Warner today announced that Virginia-based Klöckner Pentaplast of America, Inc., will expand its operations, creating 108 new jobs through a $34 million investment in Wythe County. The investment will allow Klöckner Pentaplast to build a 70,000-square-foot addition to its facility in the Rural Retreat Industrial Park. Virginia successfully competed with West Virginia for the project. Governor Warner and Virginia Secretary of Commerce & Trade Michael J. Schewel attended this morning’s announcement event.

Over a 24 hour period, Governor Warner will make six economic development announcements across Southside and Southwest Virginia, totaling 1208 new jobs, 180 saved jobs, and more than $50 million in private investment. Including today’s announcements, Governor Warner has announced more than 3,750 new jobs and nearly $290 million in investment in Southside and Southwest since taking office in January. Statewide, Governor Warner has announced more than 22,000 new jobs and $2.32 billion in investment.

“Headquartered in Gordonsville, Klöckner Pentaplast employs more than 950 Virginians across the Commonwealth,” said Governor Warner. “I am pleased the state could assist this valuable corporate citizen as it expands and provides quality jobs for the people of Southwest Virginia.”

Founded in the U.S. in 1977, Klöckner Pentaplast of America, Inc., is the largest producer of high-quality rigid films in the Americas. The company's product line includes vinyl, polyester, BAREX®, ACLAR®-laminated, COC-laminated and -coated, and PVDC-coated films for pharmaceutical, medical device, food, electronics, and general-purpose thermoform packaging, as well as printing and specialty applications. With the acquisition of Witt Plastics, Inc., Klöckner Pentaplast also offers high-impact polystyrene (HIPS) for credit card and printing (graphic arts), medical device packaging, and food applications, as well as polypropylene for food and packaging applications. At the Wythe County facility, Klöckner Pentaplast will install additional calendered rigid vinyl film capacity for packaging, print, and specialty applications. The additional capacity is targeted to come on-line in October 2003.

“Virginia has been home to Klöckner Pentaplast since 1977. A significant part of our success is directly attributable to the excellent Virginia based workforce,” said Tom Goeke, President of Klöckner Pentaplast of America. “Our successful partnership with the Commonwealth has been, and continues to be, mutually beneficial. The state’s initiatives to benefit existing businesses have allowed us an opportunity to expand in Rural Retreat creating new jobs and new opportunities.”

Governor Warner approved a $250,000 grant from the Governor’s Opportunity Fund to assist Wythe County with site preparation. Klöckner Pentaplast qualified to receive a $200,000 performance-based grant from the Virginia Investment Partnership, a program available to existing Virginia firms. The company also qualifies for a Major Business Facility Job Tax Credit, a statutory incentive available to all qualifying companies. The Virginia Economic Development Partnership, the Mt. Rogers Development Partnership (Virginia’s aCORRIDOR) and the Joint Industrial Development Authority of Wythe County, Wytheville, and Rural Retreat assisted Klöckner Pentaplast with its decision. The Virginia Department of Business Assistance will provide work force training services.

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