Multi-Color Corporation Announces Expansion Plan for Long-Term Organic Growth
State-of-the-Art Facility to Be Company's Cornerstone for New Growth
SHARONVILLE, Ohio, Oct. 22 / -- Multi-Color Corporation (Nasdaq: LABL) today announced plans to expand its manufacturing operations with the purchase of a 247,000 sq. ft. building in Batavia, Ohio. Multi-Color is investing in this state-of-the-art facility to create a platform for the future in order to take full advantage of the long-term growth opportunities in the decorative label industry.
Multi-Color plans to consolidate its current Batavia, Ohio and Troy, Ohio operations into the new Batavia facility over the next several months. The Company also plans to transfer Batavia's existing 95 associates and have discussions with Troy's 25 associates regarding employment at the new facility. In addition, Multi-Color expects to create 83 additional jobs over the next three years as a part of its strategic growth initiative. By consolidating these operations into this new supercenter, Multi-Color will improve manufacturing efficiencies while expanding needed capacity for long- term growth.
In recent weeks, Multi-Color announced the purchase of three new presses, two of which will be located in this new building, a Combination Flexo Press and a Flexo Press. The Combination press will be the first of its kind in the United States. This wide-format press is custom-configured with flexographic, gravure, screen, and foil platforms, setting new industry standards for both print quality and productivity. While the additional Flexo press brings all the flexibility that consumer package goods companies are looking for in today's competitive marketplace; high quality flexo print, screen printing, lamination, and foil stamping.
"Today's business environment requires us to continuously look at ways to optimize our investment in manufacturing assets," said Frank Gerace, President and CEO of Multi-Color. "Consolidating our two existing plant operations into this world-class facility will allow us to reduce costs while being able to take advantage of new market opportunities. This move strengthens our competitive position and will enable us to attract the best talent for our future."
About Multi-Color (http://www.multicolorcorp.com)
Sharonville, Ohio based Multi-Color Corporation is a premier global resource of innovative decorating solutions to consumer product and food and beverage companies, national retailers and container manufacturers worldwide. Multi-Color is one of the world's largest producers of in-mold labels (IMLs) and heat transfer labels (HTLs), and a major manufacturer of high-quality cut- and-stack and pressure sensitive labels and shrink sleeves. Multi-Color has eight manufacturing locations in the United States. Its products are shipped to more than 650 customers in the United States, Canada, Mexico, and Central and South America.
SOURCE Multi-Color Corporation
