Korona, one of the world’s largest candle makers, will build a production plant in the US. The value of the investment is estimated at $18.3 million and the company will employ about 170 people in the facility, which will be located in Pulaski county, Virginia.
Korona produces 8.7 million candles daily
The Polish company currently produces 8.7 million candles a day in its Polish plant located in Wieluń near Łódź. Korona’s products are usually sold by other companies under their own brand.
Now the company wants to expand its presence in the US. It already supplies retail chain Walmart with its products. Recently, the US retail giant announced an initiative to sell more American-made products, which prompted Korona to open a factory in the country.
“We have to be where our customers are and the United States candle market is the largest in the world. So it’s a very good idea to come here and try to be successful,” said company chairman Friedrich Rather announcing the decision.
“Our vision is to become a supplier for global customers, so we need to be where our customers are. We also dream an American dream; we want to become the number one private-label candle manufacturer in the world within the next few years,” he added.
In return for its investment, Korona will receive incentive packages from the local and state governments worth nearly $2 million, which will be used to help get the facility up and running. The company will also be eligible for tax exemptions.
The plant is expected to be opened in late 2014.
From Warsaw Business Journal
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