Hollingsworth & Vose Company Invests $6.1 Million To Expand Its Floyd County, Virginia, Facility
Area Development Online News Desk (11/14/2013)
Hollingsworth & Vose Company, a global manufacturer of advanced materials for filtration, battery, and industrial applications, will invest $6.1 million in its operation in Floyd County, Virginia.
The company will expand its existing facility to add manufacturing capacity to produce a product currently only manufactured in the U.K. The company operates manufacturing sites and research centers in the Americas, Europe, and Asia.
Val Hollingsworth, President and CEO, said, "We are very pleased to continue to grow and invest in Floyd, Virginia. H&V has been operating there for nearly 40 years. We are fortunate to have a lot of great people and we appreciate the support from Floyd County and the State of Virginia."
Mike Clark, Hollingsworth & Vose Division President, High Efficiency and Specialty Filtration, said, "This strategic expansion of our Floyd site will provide capacity to support the increasing demand in North America for high performance synthetic filter media. This state-of-the-art production line will produce H&V's patented Technostat electret filter media which provides high efficiency filtration with very low pressure drop."
Gov. Bob McDonnell said, "Hollingsworth & Vose has been a major employer in Floyd County for nearly 40 years and is of vital importance to the community. This significant investment and commitment to add manufacturing capacity solidifies the operation's longevity for years to come, and emphasizes the company's confidence in the business climate and infrastructure available in Floyd County. With this new product line H&V can continue to build on its success in the Commonwealth since 1974."
"Hollingsworth & Vose is a global leader in its industry and sells products in more than 80 countries," said Jim Cheng, Virginia Secretary of Commerce and Trade. "We are proud that the materials distributed internationally are produced in Floyd County, and this expansion and added product line will increase capacity. We thank the company for its continued investment in Virginia as a valued employer and corporate partner."
The Virginia Economic Development Partnership worked with Floyd County and the New River Valley Economic Development Alliance to secure the project for Virginia. Governor McDonnell approved a $100,000 grant from the Governor's Opportunity Fund to assist Floyd County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $65,000 in Tobacco Region Opportunity Funds for the project. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company's recruitment and training activities.