WS Packaging Group to Expand Knoxville, Tenn., Operations
Published Thursday, 06 February 2014
WS Packaging Group, Inc. has announced it is expanding operations in Knoxville, Tenn. The expansion involves consolidating production from five separate facilities to a single site in the Westbridge Business Park, and an investment of $43 million over the next two years.
The expansion includes moving production from four buildings in Knoxville (45,120 sq. ft.), and one building in Powell (15,000 sq. ft.). The new facility is located at 10215 Caneel Street and has 220,199 sq. ft. of combined production and office space.
The $43 million investment over the next two years will involve adding new equipment that will enable the company to increase production of digital label printing, flexographic printing, digital offset printing, and sheet-fed offset printing.
"WS Packaging Group has a long-standing history as a leading provider of complex label solutions for branded consumer and business-to-business products for companies throughout North America," said Rex Lane, chief executive officer of WS Packaging. "This expansion in Knoxville will allow us to meet the changing and growing needs of our customer base. It also will enable us to leverage a strong business environment, with support from the Tennessee Department of Economic and Community Development, to create additional employment opportunities."
Currently, WS Packaging employs 68 people in Knoxville and 44 in Powell. The expanded operations at the new facility are projected to create 231 new jobs from March 2014 through 2016. Job postings will be made to the company’s website at wspackaging.com as they become available.
The move to the new Knoxville facility is expected to begin in April 2014 and be completed by July 2014.
The new facility is the former site of Robert Bosch PBR brake caliper operations and is being leased from Hand Partnership L.P. The $43 million investment includes a $1.2 million funding FastTrack Grant from the Tennessee Department of Economic and Community Development.
"We’re extremely grateful for the support from the State of Tennessee, as well as a strong and vibrant local labor market," Lane said. "This consolidation and equipment expansion will allow us to expand our support of our current customers, and remain well-positioned for long-term growth. We’re excited about our growth prospects and the opportunity to continue investing in our business for the future."
WS Packaging Group, Inc., with more than 45 years of experience, is one of the largest printing and label converting operations in North America. It operates 21 manufacturing facilities and produces high-quality packaging products. Its customers range in size from small businesses to large, high-volume manufacturers and consumer product goods companies doing business locally, nationally, and in marketplaces worldwide. WS Packaging Group is majority owned by J.W. Childs Associates, L.P. (JWC), a private equity firm based in Boston, Mass., investing in middle-market growth companies. Since 1995, JWC has invested in over 40 companies, with a transaction value of more than $12 billion.