Gov. Nathan Deal and Yos Shiran, Chief Executive Officer of Caesarstone Sdot Yam, Ltd., announced today that Caesarstone, a manufacturer of high-quality engineered quartz surfaces, has selected Richmond Hill in Bryan County as the location for its new U.S.-based manufacturing plant. This new facility will create 180 jobs in Bryan County and represents a $70-100 million investment.
“It’s an honor to host Caesarstone’s continued global growth and success. Georgia’s outreach to the international business community and strong capabilities, including the fourth-largest and fastest-growing port in the United States, have attracted this very significant investment,” said Deal. “Caesarstone brings jobs and economic growth to the region, and we look forward to bringing to bear the logistics, workforce and other resources that will help it succeed.”
Caesarstone will use Georgia Quick Start, the top-ranked workforce training program in the nation, to train its employees. Once hiring begins, jobs will be posted by the Georgia Department of Labor office in Savannah. Caesarstone will import raw materials for manufacturing and export finished products through Georgia’s ports.
Shiran, the CEO, said, “We are excited, after a careful site selection process, to have found the right combination of a highly skilled workforce, a strong logistics infrastructure and a welcoming state, county and city. Our planned state-of-the-art facility will support our business and competitive position throughout North America, which has quickly become both our largest and fastest-growing region around the globe. We look forward to a long and very fruitful partnership with Georgia and Bryan County.”
Caesarstone joins more than 40 Israeli companies already operating in Georgia, including Amdocs, Verint, Given Imaging, PCI (Blades), Alpha Omega and Baran Telecommunications. Renée Rosenheck, senior project manager for the Georgia Department of Economic Development (GDEcD), worked with Ronen Kenan, managing director of GDEcD’s office in Israel, and Page Siplon, director of Georgia’s Logistics Center of Innovation, to assist the company with its location. The state partners were critical in assisting Caesarstone with information on how Georgia’s business and logistical advantages could meet company needs. The Development Authority of Bryan County was also a key partner in the project.
“We are very excited that Caesarstone has chosen Belfast Commerce Centre in Richmond Hill as the ideal location for its first U.S. manufacturing site,” said Steve Croy, chairman of the Development Authority of Bryan County. “Caesarstone’s decision, coupled with the fact that the Centre has recently been singled out by other companies for special recognition, gives us a very bullish outlook for the park. We thank our partners at the Georgia Economic Development Department, City of Richmond Hill, Bryan County and TerraPointe Services for their teamwork in helping introduce Caesarstone to our community.”
“Georgia has deep experience supporting international businesses from many countries, including Israel, in selecting excellent locations and resources that enable their success,” said Chris Carr, commissioner at the Georgia Department of Economic Development. “At a time when many other states have curtailed similar efforts, we can show the results of a consistent program of investment in, and outreach through, our international offices. They are the keystone to our success in global commerce.”
Caesarstone (NASDAQ: CSTE) manufactures high-quality engineered quartz surfaces, which are used in both residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces. The wide variety of colors, styles, designs and textures of Caesarstone® products, along with Caesarstone's inherent characteristics such as hardness, nonporous, scratch and stain resistance and durability, provide consumers with excellent surfaces for their internal spaces which are highly competitive to granite, manufactured solid surfaces and laminate, as well as to other engineered quartz surfaces. Caesarstone's four collections of products — Classico, Supremo, Motivo and Concetto — are available in more than 50 countries around the world with the United States, Canada, Australia and Israel accounting for more than 80 percent of its sales. Caesarstone was founded and is headquartered in Caesarea, Israel, and operates two manufacturing plants in Israel.
Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the Company's plans, objectives and expectations for future operations, including its projected results of operations, investment and headcount and the expected timing of expanding its manufacturing facilities. These forward-looking statements are based upon management's current estimates and projections of future results or trends. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These factors include, but are not limited to: the strength of the home renovation and construction sectors; economic conditions within any of our key existing markets; actions by our competitors; changes in raw material prices, particularly polymer resins and pigments; unpredictability of seasonal fluctuations in revenues; the outcome of silicosis claims and the claim by our former quartz processor; fluctuations in currency exchange rates; delays in manufacturing if our suppliers are unable to supply raw materials; cost overruns or changes implemented in the course of constructing our new production facility; and other factors discussed under the heading "Risk Factors" in the final prospectus for our initial public offering, our recent 20-F and other documents filed with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.