Celanese to invest $150 million in Giles County plant
- October 31, 2012
Celanese Corp. will invest $150 million in its Giles County operation and create at least 22 additional jobs.
The company, which manufactures cellulose acetate tow at the plant, will replace its coal-fired boilers with natural gas-fired boilers. The project will require about 200 construction workers.
Celanese is a Fortune 500 global technology and specialty materials company that engineers and manufactures a wide variety of products included in end-use application such as paints and coatings, textiles, automotive applications, consumer and medical applications, filter media, paper and packaging, chemical additives, construction, and consumer and industrial adhesives.
Its Giles County plant, in operation since 1939, is one of the world’s largest producers of cellulose acetate tow.
The Virginia Economic Development Partnership worked with Giles County and the New River Valley Economic Development Alliance to secure the project.
Gov. Bob McDonnell approved a $500,000 grant from the Governor’s Opportunity Fund to assist Giles County with the project.
McDonnell also approved a $1.5 million performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies.