Plasmine Announces Plan to Buy Plant Site

Mobile Register 5/13/04

Staff Report

Bay Minette company to also hire seven more workers in next three years

Plasmine Technology Inc. in Bay Minette has .announced plans to spend $1 million to acquire the facility it leases on Newport Parkway. President Steve Violette said the company will also hire seven more people over the course of three years.

The Pensacola based company employs 12 people at its Bay Minette plant, which has been in operation since 1990 at the site of the former Reichhold Chemicals facility.

The $1 million buys the site and associated buildings used for the manufacture, storage and shipment of rosin sizing. "This acquisition will allow us to make investments that will enhance the productivity and profitability of the operation," Violette said.

To assist with the expansion, the Industrial Development Board of the city of Bay Minette granted noneducational property tax, mortgage recording tax and sales and use tax abatements to Plasmine. The value of the abatements were not available from officials on Wednesday.

Anne Pedersen, Industrial Board chairwoman, said in a press release that the tax breaks help encourage industries to further invest in the area.

"Plasmine employs higher wage employees and is a good corporate citizen in the Bay Minette area. This investment solidifies their commitment' to Bay Minette and Baldwin County," she said.

IDB member James H. "Jimmy" Faulkner Sr. agreed.