Virginia Businesses in the News


Cutbacks and Closings

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For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings: • Mail it to: For the Record Virginia Business Magazine P.O. Box 85333 Richmond, VA 23293 • E-mail it to ForTheRecord@va-business.com • Fax it to (804) 649-6311

Celanese Acetate, a division of Dallas-based Celanese Chemicals Inc., announced plans to phase out its production of acetate filament. As a result, 275 to 325 workers at the company's Giles County facility will lose their jobs. Celanese, which moved its research and development operations to the Narrows plant, will consolidate flake and two manufacturing at the Giles County facility and other locations in Mexico and Belgium. (The Roanoke Times)

The Fairfax County Economic Development Authority will close its Tokyo office because of increased Japanese interest in investments in China. Security concerns about operating in the Northern Virginia area also played a part in decreased Japanese investment. The Tokyo office was Fairfax County's first foray into international development efforts. It still maintains offices in London, Frankfurt, Tel Aviv and Bangalore, India. Plans call for opening an office in Seoul by mid-2005. (The Washington Post)