VCC Supports Job Creation in Danville
4/15/2011
On March 31st, regional and state business leaders celebrated the completion of a $10 million, 105,000 square-foot expansion to the Essel Propack America facility in Danville with a ribbon cutting ceremony.
Virginia Community Capital has been working with company officials since early 2010 to design and deliver a financing package to accommodate the company’s unique structure and meet the needs of the Industrial Development Authority of Danville.
The expansion-consolidation project in Danville’s Airside Industrial Park brings three facilities together under one roof — Essel’s laminate tubes division, its closures division and Arista Tubes.
EsselPropack America is part of the Essel Group, the largest specialty packaging company worldwide with 35% of the global market.
Essel produces plastic laminated tubes and caps which are used in packaging products for oral care, cosmetics, food service, and industrial manufacturers. Tubes are made for products ranging from lotion, shampoo and sunscreen to pharmaceuticals and condensed milk.
Essel opened their Danville facility in 2005 to supply laminated tubes for Proctor & Gamble's North American operations. The parent company first began tube production in India in 1984 and today has 25 facilities in 13 countries that produce over 4.5 billion tubes a year. Today, anyone who uses Crest toothpaste handles a Danville-made Essel Propack tube.
Since coming to Danville in 2002, Essel has invested $95.4 million in the City of Danville and created 307 jobs. This facility expansion will create over 50 new jobs in the next three years.
About Virginia Community Capital:
With offices in Christiansburg and Richmond, Virginia Community Capital (VCC) is dedicated to the prospect of building wealth for all through our lending, savings, and advisory services. As a community development financial institution (CDFI), our mission is to offer innovative, flexible financial products designed to support housing and community development ventures, increase jobs, and encourage sustainable communities. In partnership with our for-profit bank, Community Capital Bank of Virginia (CCB), the non-profit VCC offers loan capital broader and more flexible than bank lending in low- to moderate-income communities in underserved geographies and markets. Learn more at vacommunitycapital.org.
