Dive Summary:
- Tak Investements will spend $60 million to build a recycled tissue plant in Isle of Wright County, Virginia. Virginia's governor has approved a $200,000 grant to help kick-off the project.
- When complete, the plant is expected to add 85 jobs to the region
- To build the facility, the company will repurpose a vacant piece of the International Paper mill.
From the article:
Virginia Governor Bob McDonnell has announced that Tak Investments Inc., based in Gaithersburg, Md., will invest $60 million to build a recycled tissue plant in Isle of Wight County, Va. The company’s subsidiary, ST Tissue, will recycle recovered fiber into tissue for napkins and towels using part of International Paper's Franklin mill.
In an announcement, Governor McDonnell said, "Isle of Wight County is on a positive economic upswing, as this project brings the total jobs the region has gained since 2011 to more than 1,000. Not only will Tak Investments bring significant investment and 85 new jobs to the region, the company will repurpose and put into use a vacant portion of the International Paper mill.
