January 16, 2014
RICHMOND - Governor Terry McAuliffe announced today that Hanwha Azdel, Inc., a manufacturer of high-performance thermoplastic composites designed for both interior and exterior applications, will invest $21.3 million in its operation in the City of Lynchburg. The facility produces Light-Weight Reinforced Thermoplastic composites, and with this expansion the company will add an additional production line. Virginia successfully competed against Alabama, Indiana and Michigan for the project, which will create 33 new jobs.
“The expansion of this Virginia-headquartered company is a great win for the City of Lynchburg and for the Commonwealth,” said Governor McAuliffe. “Hanwha Azdel’s investment to add a new manufacturing line at this facility speaks volumes about its success and growing product demand, as well as the strength of our business environment and workforce here in Virginia.”