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April 28, 2004 04:55 PM Eastern Time
Swagelok Company to Begin Construction of Order Fulfillment Center in Solon
After receiving necessary local, state, and federal approvals, Swagelok Company's board of directors has approved plans for construction of a new 325,000 sq. ft. order fulfillment center, commencing in summer of 2004. The new facility will be located on Cochran Road, just south of the company's headquarters at 29500 Solon Road.
Swagelok's new center will combine finished goods warehousing, assembly, welding and high-purity cleaning, as well as end-customer facing activities including customer service and order fulfillment. The new center will help Swagelok to reduce taxes and operational costs while accelerating deliveries of fluid system components and assemblies to end-customers worldwide.
"The development of the Foreign Trade Zone, together with construction of the new order fulfillment center, represents Swagelok's effort to keep and utilize its skilled workforce in Ohio, while making the speed and cost improvements needed to meet global competition," says Art Anton, Swagelok's President and CEO. "The new fulfillment center is part of our overall strategy to reduce costs and increase speed to market." Swagelok today employs about 3,000 in Northern Ohio, making it one of the region's largest manufacturing employers.
Projected for completion in early 2006, the center will be located within a Foreign Trade Zone, which exempts the company from paying taxes on inventory stored within the zone and provides import duty benefits. Various approvals by the City of Solon, Solon City Schools, and the State of Ohio have exempted the facility from certain taxes and have awarded the project grants for road construction, employee training, and other site-related needs.
"We have worked together with the Mayor of Solon, the city's economic development manager, members of Solon City Council, the Solon School Board, superintendent, and the Ohio Department of Development to keep this operation in Solon," says Anton. "We appreciate the efforts of all those who worked together to make this plan a success."
Headquartered in Solon, Ohio, U.S.A., Swagelok Company is a major developer and manufacturer of fluid system component technologies for the research, instrumentation, pharmaceutical, oil and gas, power, petrochemical, and semiconductor industries. Swagelok products are delivered through one of the world's largest manufacturing and industrial distribution networks. More than 25 Swagelok manufacturing, research, technical support, and distribution facilities support a global network of more than 200 independent, local sales and service centers on six continents. For more information about Swagelok, visit the company's Web site at www.swagelok.com.
Contacts
Swagelok Company
Janice Drost, 440-349-5934
janice.drost@swagelok.com
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