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Providência to set up nonwoven fabrics plant in Statesville

04
Dec '09
In an address to community leaders and the media at the Statesville Civic Center, Hermínio Freitas, CEO of Brazilian-based nonwoven fabrics manufacturer Companhia Providência Industria e Comercio, re-affirmed his company's commitment to building its first North American manufacturing facility at a site in Statesville, North Carolina, and announced construction would begin immediately, with an official groundbreaking ceremony planned for early next year.

Providência USA first announced plans for the new plant -- which will be situated on 43 acres at the West Industrial Park north of I-40 -- in September of 2008, with the expectation it would be completed and in operation by mid-2009. The project, however, was delayed by the onset of the global economic downturn in the months following the announcement.

Companhia Providência announces the resumption of investments at the United States factory of up to US$80 million. The start for the operation of the production line is estimated for the first half of 2011.

In his comments, Mr. Freitas expressed confidence in the rebound of the North American economy and indicated that the time is now right to increase production capacity for this market. “This announcement further underscores the company's plans for expansion. For some time now we have been examining the company's structure and consequently its capacity; but with the world financial crisis we had put new investments on hold. In the past few quarters, we have noticed the increase in demand and the resumption of this project will be instrumental in meeting this need, increasing our production capacity to 100 thousand tons per year.”

The announcement was greeted enthusiastically by community leaders: “At the revised investment and jobs levels, Providência USA still represents the largest new capital project in Statesville in more than a decade. We certainly understand and are sympathetic to the economic conditions that lead to delaying the start of construction and the changes in capital investment. We are happy that the company never lost confidence that Statesville was the right place and continued to work with us to find the right time,” said Greater Statesville Development Corporation Chairman Bill Leach. “This announcement, on top of two recent business expansion announcements, are signs of an improving local economy.”

Godfrey Williams, Chairman of the Iredell County Board of Commissioners echoed Leach's sentiment; “Given the recent uptick in unemployment figures county-wide, these new, high-paying jobs will be essential. Hopefully, Providência will begin a new season of industrial announcements that will help put the unemployed of Iredell County back to work.”

With this announcement, Providência brings its 46 year track record of quality products and respect for customers, suppliers, employees and shareholders to the Greater Statesville business community, a point of emphasis for Statesville Mayor Costi Kutteh, “We have continued to work diligently with Providência and others during these tough times. We are glad that this great company has made its decision to be a part of the Statesville family. The jobs and investment Providência is bringing will provide a tremendous boost to our economy and remind the entire world that Statesville is open for business.”

The Greater Statesville Development Corporation would like to recognize the following partners in this significant announcement for our community: the City of Statesville, Iredell County, PSNC Energy, ElectriCities of North Carolina, EnergyUnited, the NC Department of Commerce, the NC Community College System, Norfolk Southern Corporation, Alexander Railroad, the North Carolina Department of Transportation, the One North Carolina Fund and the Greater Statesville Area Committee of 100.

Greater Statesville Development Corporation


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