$270 Million Shingle Plant Under Construction Near Jacksonville
IKO, a global industry leader in the roofing, waterproofing and insulation industry, has commenced construction on their new $270 million production facility in Clay County southwest of Jacksonville and 10 miles south of Interstate 10.
The new IKO manufacturing campus in Florida will feature a shingle production facility, an insulation board plant and a commercial rolled roofing plant spread across 300,000 square feet.
When the plant was first announced, IKO North America President David Koschitzky touted the support IKO received at both the state and local levels:
“Clay County and the Clay County Economic Development Corporation have been great partners for us as we looked at this project, and we’re very pleased to be building our first-ever Florida facility.”
For those that want to follow the construction progress of IKO’s eighth plant in North America, the Clay County Economic Development Corporation has a live link posted on their homepage.
Asian Sauce Maker Building $288 Million Facility In LaGrange
One of the world’s leading makers of Asian sauces and condiments will invest up to $288 million in a new manufacturing facility at the Georgia International Business Park (GIBP) in LaGrange, Georgia.
Lee Kum Kee Sauce Group made the announcement this week in conjunction with the Georgia Department of Economic Development (GDEcD). The new plant will be their first in North America and support the company’s future growth plans in the Americas.
Lee Kum Kee Sauce Group CEO Jet Jing explained the significance of the new LaGrange sauce plant to LKK’s expansion in the Western Hemisphere:
“For Lee Kum Kee Sauce Group, this represents an exciting milestone in our commitment to serve the growing demand for Asian cuisines in the America. With the new facility in LaGrange, we will be able to increase our production capacity and efficiency, ensuring that our products continue to reach homes, restaurants, and stores across the region.” – Lee Kum Kee CEO Jet Jing
The new plant announcement was a true global coup for Georgia considering the global reach of a 136-year-old Asian brand selling an established line of over 300 products to over 100 countries worldwide.
In winning the competitive bid, GDEcD credited their Director of Southeast Asian Investment, Stella Xu, as well as their partners including Georgia Power, Georgia Quick Start and the Development Authority of LaGrange.
Sterling Council Award Winners Named In Florida & Georgia
The Sterling Council, a Tallahassee-based non-profit that saves organizations in Florida and Georgia millions of dollars annually, has recognized six regional manufacturers for organizational performance excellence.
The awards, presented last week in Orlando at the 32nd Annual Sterling Awards Banquet, recognized six Florida and Georgia manufacturers who “rose to the top in a field of 80 regional manufacturers nominated for this year’s awards.”
The recipients of the 2024 Sterling Manufacturing Business Excellence (MBE) Award include the following Florida and Georgia-based manufacturers presented here in alphabetical order:
- A&M Manufacturing | Alachua, FL
- Cathedral Corporation | Orlando, FL
- GE Vernova Onshore Wind | Pensacola, FL
- G-Force Aerospace | Pooler, GA
- Invisacook, Inc.| Bunnell, FL
- Techfit Digital Surgery | Daytona Beach, FL
The Sterling Council offers six robust assessment processes for Florida and Georgia companies. To learn more, visit thesterlingcouncil.org.
Hyundai To Build 2025 IONIQ 5 At New Georgia Metaplant
Today Hyundai ended months, if not years, of speculation over which models will be built at their new $7.6 billion Georgia Metaplant outside of Savannah.
According to the company’s official press release, Hyundai Motor Group Metaplant America (HMGMA) is “currently training and preparing to begin production” of the 2025 IONIQ 5 in the fourth quarter of this year.
HMGMA President & CEO Oscar Kwon says the Georgia plant will eventually be the sole facility building IONIQ 5 models for the U.S. market:
“This is a very exciting time for HMGMA. We are in the final phase of construction and are getting ready for the 2025 Hyundai IONIQ 5 to roll off the line. It’s the ideal vehicle for us to start production with.” – HMGMA President & CEO Oscar Kwon
EVI Industries To Acquire Laundry Pro of Florida
A North American leader in the commercial laundry distribution and service industry today announced the acquisition of another established industry player based in Lakeland.
Miami-based commercial laundry distribution and service leader, EVI Industries, says the company has executed a definitive agreement to acquire Laundry Pro of Florida.
Established in 1996 by Ron Jansen, Laundry Pro is a family-owned commercial laundry distributor and provider of installation and maintenance services throughout Florida and parts of Alabama.
According to the official press release, Laundry Pro will operate under its existing name and with its current team to provide continuity to customers, employees, and vendor partners.
The Laundry Pro acquisition marks the twenty-seventh commercial laundry business acquisition that EVI Industries has made since 2016.
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If you own an established manufacturing business in Florida or Georgia and would like to get a better understanding of the current market value of your company and important steps you can take today to maximize that value, get in touch with a CII business advisor today.