Duroc’s subsidiary has received a grant from Virgina Commonwealth’s opportunity Fund
29 June 2020
Duroc’s US subsidiary Drake Extrusion, a leading manufacturer of colored filament yarn and staple fiber, has been operating in Henry County since 1995. Over the past decade, Drake Extrusion has continually invested in expanding the business. During a period of a few years, Drake Extrusion is investing $6.9 million to expand its operation in Henry County. A near-term project is establishing an additional manufacturing facility, creating 30 new jobs.
As an incentive, Governor Ralph Northam approved a $90,000 grant from the Commonwealth’s Opportunity Fund to assist Henry County with the project. Drake is also eligible to receive state benefits (https://www.areadevelopment.com/taxesIncentives/) from the Virginia Enterprise Zone Program. Support for Drake Extrusion’s job creation will also be provided through the Virginia Talent Accelerator Program. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.
For further information
John Häger, CEO Duroc, +46 702 48 72 99
Duroc AB (publ)Box 5277, SE-102 46 Stockholm, Sweden Street address:
Corporate ID number: 556446-4286
The Duroc Group manages and develops industrial and trading companies. With
deep knowledge of technology and market, the Group’s companies strive to
achieve a leading position in their respective industries. As owner Duroc
contributes actively to the development. Duroc is listed on NASDAQ OMX
Stockholm (symbol: DURC). www.duroc.se