posted at 12:51 pm Thu Jun 19th, 2014 by (WherezIt_Staff)
Georgia Governor Nathan Deal announced today that Keurig Green Mountain, Inc. (Keurig) (NASDAQ: GMCR) will open a manufacturing facility in Douglas County, Ga.
Keurig has closed on the purchase of a 585,000 square foot building for renovation in Douglasville, and anticipates creating 550 new jobs and investing $337 million into the facility over the next five years.
"Keurig's new facility is a great addition to Georgia's already diverse manufacturing industry and will provide many good jobs for our citizens," said Gov. Deal. "The fact that the company has chosen to manufacture it new product line in Georgia is a testament to our skilled workforce and logistics infrastructure."
Keurig's innovative Keurig(r) Hot Brewing System delivers convenience, variety, and consistent great taste at the touch of a button, through a premium brewer portfolio and an expanding family of more than 50 quality brands and 290 beverages. The new Douglas County manufacturing center will support the production of pods for the company's new Keurig(r) Cold platform, an in-home cold beverage system that will give consumers a convenient way to quickly produce their favorite cold beverage brands with the same one-touch simplicity, quality, and variety that consumers enjoy from the Keurig(r) brand.
In February, Keurig and The Coca-Cola Company announced the companies had entered into a long-term, global strategic partnership to collaborate on the development and introduction of The Coca-Cola Company's global brand portfolio for use in the Keurig Cold? beverage system and will cooperate to bring the system to consumers around the world. The system is currently under development with expected availability in fiscal year 2015.
"Keurig Cold is an exciting new multi-brand platform for our company, and ensuring beverage pod production capacity and efficiency are key to its success," said Brian Kelley, Keurig's President and CEO. "The Douglas County region offers a diverse and skilled employee base as well as many geographic and economic benefits, making it a great location for our new facility. We are grateful for the support we have received from local and state representatives to help bring us to the region, and we look forward to becoming an active part of the community."
In addition to the new Douglas County location, Keurig maintains eight production and distribution facilities in Castroville, California; Knoxville, Tennessee; Windsor, Virginia; Essex, Waterbury, and Williston, Vermont; Sumner, Washington; and Montreal, Quebec. The Company also conducts research and development activities in facilities in Burlington, Reading, and Wakefield, Massachusetts; and in Waterbury, Vermont. The Douglas County site will complement the company's new Early Production Center in Williston, Vermont, which will serve as a hub for Keurig(r) Cold start-up and early production work.
The Douglas County Development Authority and Annie Baxter, director of the logistics, energy, agribusiness and food team at the Georgia Department of Economic Development (GDEcD) assisted the company with this project. Keurig was represented throughout the search process by Lake Forest, IL based Kupperman Location Solutions. Keurig is also working with Cincinnati-based Hixson Inc. Architecture, Engineering, Interiors on the engineering for the new site.
"Douglas County is honored that Keurig has chosen us for its newest location. They have trusted their brand to our County, and we are grateful. Douglas County has great locations, great transportation, low taxes, and high livability, and we welcome Keurig to our community," said Douglas County Commission Chairman Tom Worthan.
"I am excited to welcome Keurig to Douglasville. Keurig in their partnership with the Coca-Cola Company represents the type of corporate citizenry that continues to help make Douglasville one of the premier places in America to live, work, play and raise a family. Our labor force, infrastructure, collaborative efforts, and quality of life are the reasons for choosing Douglasville and why Georgia is the number one state to do business," said Douglasville Mayor Harvey Persons.
"I am excited to see an innovative company such as Keurig partner with one of Georgia's biggest brand names -- The Coca-Cola Company," said GDEcD Commissioner Chris Carr. "Our pro-business environment sets the stage for businesses to collaborate, and this is a tremendous example of such a partnership."
"We are pleased to welcome Keurig and its new processing facility to metro Atlanta," said Hala Moddelmog, president and CEO of the Metro Atlanta Chamber. "This boost in manufacturing jobs and investment in metro Atlanta's food and beverage industry is a huge win for Douglas County and for our region. Keurig, one of the most widely recognized beverage brands, will benefit from our skilled workforce, warehouse space and supply chain infrastructure."
Keurig will be taking applications online this fall for a variety of job opportunities, including production, maintenance, engineering, materials management, safety, facilities, continuous learning, IT, quality, and more. For more information on career opportunities visit www.KeurigGreenMountain.com or the Keurig Green Mountain Careers Facebook page, or email email@example.com.
About Keurig Green Mountain, Inc.
As a leader in specialty coffee, coffee makers, teas and other beverages, Keurig Green Mountain (Keurig) (NASDAQ: GMCR), is recognized for its award-winning beverages, innovative brewing technology, and socially responsible business practices. The Company has inspired consumer passion for its products by revolutionizing beverage preparation at home and in the workplace. Keurig supports local and global communities by investing in sustainably-grown coffee and by its active involvement in a variety of social and environmental projects. By helping consumers drink for themselves, we believe we can brew a better world. For more information visit: www.KeurigGreenMountain.com. To purchase Keurig(r) products visit: www.Keurig.com or www.Keurig.ca.
Keurig routinely posts information that may be of importance to investors in the Investor Relations section of its website, www.KeurigGreenMountain.com, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company's automatic email news release delivery, individuals can receive news directly from Keurig as it is released.
Keurig Green Mountain Forward-Looking Statements
Certain information in this filing constitutes "forward-looking statements." Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "seeks" or words of similar meaning, or future or conditional verbs, such as "will," "should," "could," "may," "aims," "intends," or "projects." However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements may relate to: the expected impact of raw material costs and our pricing actions on our results of operations and gross margins, expected trends in net sales and earnings performance and other financial measures, the expected productivity and working capital improvements, the success of introducing and producing new product offerings, the impact of foreign exchange fluctuations, the adequacy of internally generated funds and existing sources of liquidity, such as the availability of bank financing, the expected results of operations of businesses acquired by us, our ability to issue debt or additional equity securities, our expectations regarding purchasing shares of our common stock under the existing authorizations, projections of payment of dividends, the impact of the inquiry initiated by the SEC and any related litigation or additional governmental inquiry or enforcement proceedings, and the impact of any pending or future antitrust litigation. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part I, "Item 1A. Risk Factors," and Part II "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in our fiscal 2013 Annual Report filed on Form 10-K, as amended, and elsewhere in this report and those described from time to time in our future reports filed with the Securities and Exchange Commission.
Actual results could differ materially from those projected in the forward-looking statements. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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