Group, Inc. (OTC Bulletin Board: POLGA/POLGB), one of the world’s leading producers of engineered
materials, today announced it will establish a new corporate headquarters in the Charlotte, N.C.
region, to better serve its customers and accommodate future growth of the business.
The new headquarters will bring together the company’s senior leadership, finance,
purchasing, human resources, sales, customer service and other administrative functions, currently
located in several locations in the U.S., into one central site with approximately 100 employees.
The relocation from the current headquarters in North Charleston, S.C., is planned to take
place by August, 2006. About a dozen executive management positions have been based at the North
Charleston site since 2003. Additionally, employees will be relocated from sites in Dayton, N.J.
and Mooresville and Raleigh, N.C.
The move puts PGI in closer proximity to its Mooresville, N.C., manufacturing site, where
the company is in the process of a $40 million expansion. The plant expansion is expected to be
completed by the middle of this year and will add approximately 50 jobs in the North Carolina area,
in addition to the positions being relocated from the headquarters consolidation.
“This relocation is very much in line with our plans for deliberate growth and expansion,
and makes perfect sense for the business,” said James Schaeffer, PGI’s chief executive officer. “
Bringing together these different disciplines under one roof will foster even greater collaboration
and cooperation across the company, and also puts us closer to our manufacturing operations and
customers. In addition, it will improve our efficiencies and provide us with the infrastructure we
need to continue to grow our business.”
Press release courtesy of Polymer Group, Inc.
February 21, 2006