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Jessica Sabbath //September 11, 2017//
Jessica Sabbath// September 11, 2017//
Koinonia Ltd., a Brazilian-based manufacturer of foam and tape solutions for the automotive, refrigeration (HVAC), marine, construction and heavy-machinery industries, is planning to open its first North American manufacturing operation in Pulaski County.
The $4.9 million investment is expected to create 40 jobs. The company will establish its operations in the ShaeDawn Industrial Park.
Virginia competed against Indiana, North Carolina, Ohio, and Tennessee for the project.
“After searching different U.S. states for our plant, we at Koinonia decided to open our doors in Virginia for various reasons, including the great support from state and local authorities, lower cost of living, lower cost of energy, and the talented workforce from local colleges and universities,” Koinonia Chief Operating Officer Marcio Lopes said in a statement.
Founded in 2016, Koinonia (also known as Koi Foams) is a subsidiary of Koinonia Fitas e Pecas Tecnicas e Espumas Ltda, a Sao Paulo, Brazil-based company founded in 2009.
Gov. Terry McAuliffe approved a $100,000 grant from the Commonwealth’s Opportunity Fund for the project.
