Hanwha Azdel Inc. announces $21 million expansion in Lynchburg
Hanwha Azdel Inc. announced Thursday a $21.3 million expansion in Lynchburg which will create 33 jobs. The company, which is headquartered in the city, makes high-performance thermoplastic composites for interior and exterior applications.
As part of the expansion, Hanwha Azdel Inc. will add a production line to its facility which produces light-weight reinforced thermoplastic composites.
The company is an affiliate of Hanwha Living & Creative (L&C) Corp., which is part of Hanwha Group, a Korean company that employs 50,000 people around the world.
Former Gov. Bob McDonnell approved a $350,000 grant from the Governor’s Opportunity Fund for the project. Virginia competed against Alabama, Indiana and Michigan to secure the deal.