Replacements, Ltd. Moves Ahead with Planned Expansion Project
GREENSBORO, N.C., October 12, 2010 – Replacements, Ltd. today announces plans to nearly double the size of the company’s main facility, which houses its corporate headquarters, retail store, museum and main warehouse. The approximately 200,000 square foot addition marks the most significant capital investment to date in Replacements’ history.
“Starting a project of this scope in the current economic climate isn’t an easy decision,” says Founder and CEO Bob Page. “We initially wanted to expand two years ago, but the uncertainty created by the economic downturn caused us to suspend those plans. That’s why we’ve taken our time and been very thorough in making a sound business decision that will put Replacements in a position to continue to thrive. As we approach our 30th anniversary early next year, this expansion is truly a long-term investment in the future of our company, our employees and our community.”
This will be the second expansion to the company’s 225,000 square foot main facility located at 1089 Knox Road. The addition will create a working area of approximately 425,000 square feet, nearly the size of seven and a half football fields. The additional space will primarily be used for warehousing operations.
“This expansion will allow us to more efficiently store and manage our inventory that is currently housed at multiple locations,” says Replacements’ President Scott Fleming. “We will be able to consolidate our warehousing operations, reduce storage costs and improve our pick/pack operations by creating a new high-density pull zone for our top selling patterns.”
Replacements has chosen Greensboro-based Samet Corporation as the general contractor for the project. Costs are estimated in the range of $7 million.
“Samet Corporation is extremely pleased and excited to have been awarded the Replacements, Ltd. expansion project,” says President and CEO Arthur Samet. “We have always admired and respected Replacements as a leader in their business and in the community. While building in this business climate requires a significant commitment from their leadership and a strong understanding of their ability to grow their business, Replacements has chosen an excellent time from a construction standpoint. Many materials are more available and at a lower cost than two years ago when the company first began planning the expansion. As a result, Replacements is maximizing their value proposition, which will help them be more competitive in serving their customers over the long-term.”
The expansion is not expected to initially create more jobs. Replacements is hopeful construction will begin in early November 2010 and anticipates completion in time to ramp up for the company’s 2011 holiday season.
About Replacements, Ltd.
Founded by Bob Page in 1981, Replacements, Ltd. carries the world’s largest selection of old and new china, crystal, silver and collectibles. The company’s 455,800 square foot facilities house an inventory of nearly 14 million pieces from over 340,000 patterns. Headquartered in Greensboro, N.C., Replacements, Ltd. serves more than ten million customers worldwide.
Lisa Conklin, Public Relations Manager
(800) 737-5223 ext. 2552
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