Plastics equipment manufacturer to reopen Pulaski facility
Xaloy Holdings to produce 35 jobs, investing $1.75 million
Plastics industry equipment manufacturer Xaloy Holdings LLC will move its barrel manufacturing operation from Ohio back to Virginia, reopening its former facility in Pulaski County, Gov. Ralph Northam announced Thursday.
Xaloy will invest $1.75 million in its 100,000-square-foot, 30-acre site in Pulaski to produce bimetallic barrels, which are formed by bonding metal linings to the insides of steel tubes, for use in the plastics manufacturing industry. The move is expected to create 35 jobs, Northam said in a statement.
Virginia successfully competed against Ohio for the project.
“Our workforce is one of the key reasons Virginia is America’s Top State for Business, and the return of Xaloy is proof positive that our pipeline of skilled talent is unmatched,” Northam said in a statement. “It was a priority to regain this important employer in Pulaski, and securing this important project demonstrates the value of collaboration in driving economic opportunity and building long-term corporate partnerships.”
In 2016, Xaloy closed its Pulaski plant and moved the majority of the facility’s manufacturing to Austintown, Ohio. With its return to the New River Valley, the company will rehire some former employees familiar with Xaloy’s specific machinery. The project will retain seven jobs, according to the governor’s statement
Xaloy CEO Kamal K. Tiwari said in the statement: “With the increase in demand, we were reaching capacity with our twin-barrel line in Austintown, and moving that business back to Pulaski was contingent on being able to hire the right people and do it quickly. When we decided to reopen the Pulaski site, we turned to former employees to get the facility back in operation. Nearly all 20 of the initial workforce consists of former Pulaski Xaloy workers, bringing with them decades of experience. … With the support of the governor, state and local officials and everyone who wanted to see manufacturing in this community back on its feet, we’re happy to have been able to bring those hopes to fruition.”
The Virginia Economic Development Partnership worked with Pulaski County, the town of Pulaski and development agency Onward New River Valley to compete for the project. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development, as well as local incentives from Pulaski County and the Town of Pulaski, according to the governor’s office.
Del. Nick Rush, a Republican, serves the 7th House of Delegates district, which includes Floyd County and parts of Montgomery and Pulaski counties.
“When I delivered for FedEx a number of years ago, I warmly remember a sign that greeted everyone who entered Xaloy: ‘Through these doors walk the world’s greatest barrel makers,’” he said in the statement. “The return of Xaloy to Pulaski County means that barrel manufacturing professionals and southwest Virginia will benefit greatly from having this specialty trade return to our region. … I look forward to the world’s best barrel makers walking through those doors once again.”
Xaloy manufactures plastic processing components for injection and extrusion machinery. It was acquired by Altair Investments Inc., a Chicago-based private equity firm that focuses on niche manufacturing companies, in February 2021.