January 18, 2005

Ellen Qualls
(804) 786-2211, x2379

Ted Anderson
BondCote Corporation
(540) 980-2640 x402
Christie Collins
(804) 371-4074
-Governor Warner announces $2.7 million investment; 27 new jobs-

RICHMOND - Governor Mark R. Warner today announced that BondCote Corporation, a manufacturer of coated and laminated industrial fabrics, will invest $2.7 million to expand production in the Town of Pulaski. The company will add 27 new jobs to its current payroll of more than 150 employees. Virginia successfully competed with Georgia, North Carolina, South Carolina and West Virginia for the project.

“BondCote Corporation knows first hand the excellent skills and strong work ethic of the people in Pulaski County,” said Governor Warner. “I congratulate BondCote and see it as a great sign they chose to stay and expand in the Commonwealth.”

BondCote Corporation, headquartered in Pulaski County, is a leading manufacturer of high-performance coated and laminated fabrics. BondCote’s fabrics are used in numerous applications that include truck covers, specialty commercial fabrics, military tents and covers and commercial roofing materials. The expansion project will allow the company to increase its production capacity by about 20 percent. Employment at the facility is predicted to grow by 15 percent by the time the new production equipment comes on-line in mid-2005.

“It is great that our expansion will be in Pulaski County, the area where our business started over 55 years ago,” said Ted Anderson, President and CEO of BondCote. “The county, town and the NRV Economic Development Alliance were pivotal in assisting in our decision process. Textile manufacturing in general has had difficult times recently, but with our dedicated work force and the Commonwealth of Virginia’s and community’s support we are bucking that trend and decided to expand in Virginia instead of another region or going overseas.”

The Virginia Economic Development Partnership, the New River Valley Economic Development Alliance, the Town of Pulaski and Pulaski County assisted BondCote with its decision to expand in Virginia. Governor Warner approved a $37,500 grant from the Governor’s Opportunity Fund to assist the Town of Pulaski with the project. The Virginia Department of Business Assistance will provide training through its Workforce Services Program.

“The Town of Pulaski is pleased to support the expansion of BondCote, which has been one of our most successful industries over the years,” said John Hawley, Pulaski Town Manager. “The new jobs and increased investment are good omens for the economic future of Pulaski.”


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