SOURCE: Grupo Phoenix

Grupo Phoenix

April 11, 2011 11:12 ET

Grupo Phoenix Increases Investment to $40 Million and Creates a Total of 340 New Jobs

DUBLIN, VA--(Marketwire - Apr 11, 2011) - Phoenix Packaging Operations, LLC, a subsidiary of Grupo Phoenix, announces the expansion of its newly inaugurated production plan in Dublin, VA with an additional commitment to increase its total investment to $40 million and create a total of 340 new jobs within the next two years.

Grupo Phoenix announced the official inauguration of its first state-of-the-art production plant in the United States on March 30, 2011. The company, along with Governor Robert McDonnell of Virginia and various state and local officials and representatives of the Colombian government, held a ribbon-cutting ceremony in Dublin, VA to mark the occasion.

"For Governor Bob McDonnell every job counts -- he is seriously committed to helping new companies set up manufacturing facilities and bring high-paying jobs to the Commonwealth of Virginia," said Alberto Peisach, President and Chief Executive Officer of Grupo Phoenix. "Once we had his support, the local and state agencies fell in line and honestly speaking, Virginia was the place for Phoenix Packaging Operations. From the standpoint of geographical location, logistics, qualified workforce, energy costs, and rail service, Pulaski was the right county. We are very pleased to be part of the community."

The new investment will allow the company to purchase higher volumes of top quality raw materials and to accelerate the use of leading technology in extrusion, thermoforming, printing and barrier packaging for the dairy, coffee and food industry.

Speaking about today's announcement, Governor McDonnell said, "Less than one year ago, Grupo Phoenix announced plans to establish its first U.S. operations and its North American headquarters in Pulaski County. This significant investment and expansion is testament to the company's rapid success in Virginia. It is gratifying to see quality manufacturing jobs come back to America."

"With this expansion in place, Phoenix Packaging Operations will have created a total of 340 jobs for Pulaski County in two years," said Jim Cheng, Virginia Secretary of Commerce and Trade. "In a challenging economy, it speaks volumes that the company has successfully served its U.S. clients from this new operation, while also continuing to grow and build its customer base."

Grupo Phoenix, a privately owned company, has been one of the leading manufacturers of injection-molded plastic packaging, thermoformed products, foil lidding and extruded barrier packaging in Latin America for the last 30 years. With 10 locations in Latin America and the United States, the company employs more than 4,000 people in four countries and exports to 30 countries worldwide. Grupo Phoenix manufactures packaging solutions for major companies and household names in the dairy, dessert, sauces and coffee market. www.grupophoenix.com

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