Global manufacturer’s expansion creates $15 million in investment in Buford
(GWINNETT- METRO ATLANTA) November 20, 2014 – KRAIBURG TPE Corporation, in partnership with Georgia Department of Economic Development and Gwinnett Chamber Economic Development, celebrated the expansion of its Gwinnett location with a groundbreaking ceremony in the City of Buford, Gwinnett County, metro Atlanta. The project is expected to create more than 20 new jobs over the next five years. The 65,000-square-foot, build-to-suit facility represents a $15 million investment in the community.
The leading manufacturer of Thermoplastic Elastomers, KRAIBURG TPE has experienced strong growth over the past ten years, tripling in size and revenue. Headquartered in Waldkraiburg, Germany, the company’s existing Gwinnett operations serves as KRAIBURG TPE’s Americas headquarters.
“KRAIBURG TPE’s value proposition to customers is our unparalleled investment in innovation and product development. The availability of a highly skilled workforce makes Gwinnett an ideal location in which to grow,” said Jeff Frankish, Managing Director for KRAIBURG TPE. “Our company will benefit from the engineering talent and economic strength of this community. We look forward to future growth in Gwinnett.”
Located off I-985, on Hamilton Mill Parkway, in the Hamilton Mill Business Park, KRAIBURG TPE’s new facility will focus on the production of existing products lines for automotive, consumer and industrial applications.
“Gwinnett is the home of 20% of the state’s German businesses, and we are highly focused on accelerating the investment from Europe’s largest economy through the Partnership Gwinnett initiative.” stated Gwinnett County Commission Chairman Charlotte Nash. “I am thrilled that these efforts continue to bear fruit and want to thank KRAIBURG TPE for their commitment to this community.”
Construction on the new KRAIBURG TPE facility is scheduled for completion in 2016 with an additional 9,000 square feet added by 2018, resulting in a total 74,000 square foot facility.
The facility will be designed initially for three production lines and 75 personnel to start, with the capacity to double the square footage of its original size as needed. Long – term, the future expansion will include enough space for the addition of up to five more production lines.
“KRAIBURG TPE is a great example of the type of manufacturing companies that are succeeding in Gwinnett County: global, R&D-driven, and with a strong commitment to being part of their community,” said Troels Adrian, Senior Project Manager, Advanced Manufacturing and Supply Chain Management for Gwinnett Chamber Economic Development and Partnership Gwinnett. “I look forward to assisting them as they take their Americas business to a new level with this state-of-the-art facility.”
To learn more about KRAIBURG TPE, please visit www.kraiburg-tpe.com.
For more information or to learn how to get involved in local economic development efforts, please visit www.gwinnetteconomicdevelopment.com.