Kristi Corporation, a global supplier of industrial raw material for aluminum and steel metallurgical industries, will invest $1.1 million to establish a log load and fumigation facility in Suffolk, Virginia.
The company plans to source 100 percent of its exports from Virginia loggers, according to state officials. The project is expected to create ten new jobs.
“We were pleased to find a business-friendly atmosphere in Virginia and great support from the Virginia Department of Forestry for our project,” said Jeyapal Babu, CEO of Kristi Corporation. “Access to a world-class port system and employees trained in heavy machinery operation were also big factors in determining this new venture.”
“An abundant supply of raw material and exceptional logistics infrastructure make Virginia an ideal location for Kristi Corporation’s growing business, and we are pleased to welcome the company to the Commonwealth,” said Secretary of Commerce and Trade Brian Ball. “Suffolk’s close proximity to The Port of Virginia and access to major interstates and rail lines will be important assets for Kristi Corporation as it expands its market reach.”
The Virginia Economic Development Partnership (VEDP) worked with the City of Suffolk, the Virginia Department of Forestry, and The Port of Virginia to secure the project for Virginia and will support Kristi Corporation’s job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities.
“I am pleased that Kristi Corporation chose Suffolk to site its new log exporting facility,” said Secretary of Agriculture and Forestry Bettina Ring. “Investments like this provide important forest product markets for landowners and new employment opportunities which continue to support forestry, Virginia’s third-largest industry. I am delighted that the Commonwealth and the Virginia Department of Forestry were able to partner with the City of Suffolk to support this new venture.”
Kristi Corp exports a variety of logs, lumber, and biomass from North America to countries worldwide.
“Kristi Corporation’s strategic decision to locate its newest operation in Suffolk holds benefits for the company, the economies of Virginia, the City of Suffolk, and The Port of Virginia,” said Stephen A. Edwards, Virginia Port Authority CEO and Executive Director. “The port will be Kristi Corp’s international trade gateway, and we are ready to collaborate to leverage the world-class efficiency being generated at this 21st century port. We look forward to serving as the company’s link to global markets for many years to come.”