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Whirlpool (WHR) to Expand on KitchenAid Distribution Center
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Whirlpool Corporation (WHR - Free Report) , one of the world’s leading home appliances manufacturers, is here again with its new expansion initiative. This time, the company is set to double the size of its Greenville, Ohio-based Factory Distribution Center (FDC), which distributes all shipments for its KitchenAid small appliances brand across the globe.
Once the ball is set rolling at this project site, it will expand the size of the distribution center from 327,000 square feet to nearly 650,000 square feet. The company expects to complete the expansion by Mar 2017.
This expansion not only testifies to the worldwide success of the company’s KitchenAid brand, but also demonstrates Whirlpool’s commitment to enlarge the America-based manufacturing scope as well as boost its operations in the state of Ohio, mainly at Greenville – a global hub for its small appliances.
The company earlier proved its commitment to American manufacturing when it shifted the production of its KitchenAid hand mixers back to the U.S. from China. At that juncture, the company’s Greenville plant, known as the KitchenAid Way production facility, took up these operations. Later, this plant went on to build the aforementioned stand-alone distribution center, right across the street, to fulfill its warehousing needs.
In fact, the expansion of the said distribution center comes right after the completion of the $40 million worth, or 218,000 square feet expansion of the Greenville facility in May 2016. With this expansion, the plant doubled in size and ramped up employment opportunities by taking the total workforce strength to about 1,200.
Now, the expansion of the Greenville distribution center will further expand employment opportunities in the state, by increasing the 1,200 jobs to 1,400 in coming years. The Greenville plant produces KitchenAid brand stand mixers and attachments, hand mixers and blenders.
The expansion of the Greenville plant was a part of the company’s $80 million Ohio expansion project announced in May 2016. Apart from this plant, the project included plans for a $40 million expansion of its Findlay dishwasher-manufacturing facility located in Findlay.
That said, we believe Whirlpool stands to gain from the expansion projects it is taking up. Particularly, the expansion of the Greenville distribution center will help it cater to the growing demand for KitchenAid small appliance division.
Whirlpool currently carries a Zacks Rank #3 (Hold). The stock closed trade at $183.76 yesterday, inching up only about 0.5%
Better-ranked stocks in the broader consumer discretionary space include Decker’s Outdoor Corp. (DECK - Free Report) , Central Garden & Pet Co. (CENT - Free Report) and SodaStream International Ltd. , each carrying a Zacks Rank #1 (Strong Buy).
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Whirlpool (WHR) to Expand on KitchenAid Distribution Center
Whirlpool Corporation (WHR - Free Report) , one of the world’s leading home appliances manufacturers, is here again with its new expansion initiative. This time, the company is set to double the size of its Greenville, Ohio-based Factory Distribution Center (FDC), which distributes all shipments for its KitchenAid small appliances brand across the globe.
Once the ball is set rolling at this project site, it will expand the size of the distribution center from 327,000 square feet to nearly 650,000 square feet. The company expects to complete the expansion by Mar 2017.
This expansion not only testifies to the worldwide success of the company’s KitchenAid brand, but also demonstrates Whirlpool’s commitment to enlarge the America-based manufacturing scope as well as boost its operations in the state of Ohio, mainly at Greenville – a global hub for its small appliances.
The company earlier proved its commitment to American manufacturing when it shifted the production of its KitchenAid hand mixers back to the U.S. from China. At that juncture, the company’s Greenville plant, known as the KitchenAid Way production facility, took up these operations. Later, this plant went on to build the aforementioned stand-alone distribution center, right across the street, to fulfill its warehousing needs.
In fact, the expansion of the said distribution center comes right after the completion of the $40 million worth, or 218,000 square feet expansion of the Greenville facility in May 2016. With this expansion, the plant doubled in size and ramped up employment opportunities by taking the total workforce strength to about 1,200.
Now, the expansion of the Greenville distribution center will further expand employment opportunities in the state, by increasing the 1,200 jobs to 1,400 in coming years. The Greenville plant produces KitchenAid brand stand mixers and attachments, hand mixers and blenders.
The expansion of the Greenville plant was a part of the company’s $80 million Ohio expansion project announced in May 2016. Apart from this plant, the project included plans for a $40 million expansion of its Findlay dishwasher-manufacturing facility located in Findlay.
That said, we believe Whirlpool stands to gain from the expansion projects it is taking up. Particularly, the expansion of the Greenville distribution center will help it cater to the growing demand for KitchenAid small appliance division.
Whirlpool currently carries a Zacks Rank #3 (Hold). The stock closed trade at $183.76 yesterday, inching up only about 0.5%
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Stocks to Consider
Better-ranked stocks in the broader consumer discretionary space include Decker’s Outdoor Corp. (DECK - Free Report) , Central Garden & Pet Co. (CENT - Free Report) and SodaStream International Ltd. , each carrying a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>