FOR IMMEDIATE RELEASE
May 27, 2003

Ellen Qualls
www.governor.state.va.us


Dr. Reinhold Brand
Goldschmidt Chemical Corporation
(804) 452-5701
Jill Vaughan
VEDP
(804) 371-0049
GOVERNOR WARNER ANNOUNCES CHEMICAL COMPANY TO EXPAND HOPEWELL FACILITY
-Goldschmidt’s $26.6 million investment part of deal closed on European Trade Mission-


DÜSSELDORF, GERMANY - Governor Mark R. Warner today announced that Goldschmidt Chemical Corporation, a subsidiary of the Degussa Corporation, will expand its operations in the City of Hopewell. The expansion will allow the chemical company to create 28 new jobs and bring Goldschmidt's first U.S. polyether plant to the Commonwealth. Virginia successfully competed with Alabama, North Carolina and Wisconsin for the project. The announcement followed the Governor’s meeting with company officials at Degussa Corporation’s world headquarters in Düsseldorf, Germany. On Tuesday, May 20, Governor Warner also announced a $260 million Boehringer Ingelheim Chemicals expansion in the City of Petersburg.

“Goldschmidt Chemical has been located in Hopewell for more than 20 years,” said Governor Warner. “This international company is committed to Virginia and I’m pleased to announce these new employment opportunities.”

Dr. Reinhold Brand, President of Goldschmidt Chemical Corporation, noted that the expansion would include a Technical Competence Center for North America for the Oligomers & Silicones Business Unit. “This will provide technical service, quality control and product development,” said Dr. Brand. “The key factors in selecting Hopewell as the site for this expansion have been the business friendly climate in the City of Hopewell and the cooperation of the Virginia Economic Development Partnership and their assistance with providing investment incentives.”

The Goldschmidt Chemical Corporation qualifies to receive a $300,000 performance-based grant from the Virginia Investment Partnership, a program available to existing Virginia firms. The company is also eligible to receive tax credits because it is located in an enterprise zone. The Virginia Economic Development Partnership, Virginia’s Gateway Region and the City of Hopewell assisted the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.

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