Peerless Industries to Create New Illinois Jobs With Move to Aurora
Melrose Park Company Consolidates Operations Following Closing of Facility in China
MELROSE PARK, Ill., Feb. 28 /PRNewswire/ -- Peerless Industries, Inc., one of the largest U.S.-based manufacturers of audio/visual mounting solutions, announced today that it will move operations from two campuses in Melrose Park to a single large facility in Aurora, Illinois beginning in May.
The relocation follows a 2009 decision by Peerless management to return all manufacturing jobs to the U.S. after four years during which 30% of the company's products were produced in China through an exclusive strategic partnership with a local factory. Those jobs started moving back to the U.S. late last year after Peerless finalized plans to relocate to Aurora in order to consolidate operations under one roof, upgrade to a more modern and energy-efficient facility, and provide room for physical expansion.
"We need more space, we want to merge all operations to reduce operating expenses, and we are committed to being environmentally responsible as well as returning all manufacturing to the U.S. to shorten lead times and regain complete control," said Michael A. Campagna, President/COO of Peerless Industries. "Our new headquarters will allow us to achieve all of those objectives, keep costs low, and ensure that we continue to provide the best and most reliable mounting solutions available."
I-88 R&D Corridor
The new Peerless headquarters will be located at 2300 White Oak Circle in Aurora, near the intersection of I-88 and Eola Road on the Interstate 88 Research & Development Corridor of Illinois. The 307,813-square-foot facility sits on 22.5 acres and has 30-foot clear ceilings, 35 exterior docks, 400 parking places and Peerless will be working to get the building LEED "green" certification. It was built for 3M in 1997 and has been vacant for more than a year.
Peerless plans to add 22,000 square feet of office space shortly after occupancy, and has room on the property to add 180,000 square feet of manufacturing space over the long term. The company also plans to further increase the building's environmental rating by installing solar panels and wind turbines to generate power for the facility, switching to highly efficient T5 fluorescent lighting, and recycling heat produced by its process equipment to heat the plant in the winter.
Peerless will lease the Aurora building for 12 months and purchase both the building and land in December 2010. The company worked with commercial real estate brokers Larry Goldwasser and Jay Maher of NAI Hiffman, the Chicago-area representative for NAI Global, to find the property and negotiate the terms of the agreement. NAI Hiffman also represented Peerless in their 85,000-square-foot expansion in Melrose Park in 2007.
Over the past 68 years, Peerless has moved four times and doubled its space with each move. In 2009 the company added a European headquarters with the acquisition of BBG Distribution Ltd., a leading distributor of audio/visual attachment and peripheral brands based in the United Kingdom. The merger extended Peerless' footprint into the UK market as well as providing a springboard for additional European and global expansion.
About Peerless Industries, Inc.
Peerless Industries is a 68-year old designer, manufacturer and distributor of A/V solutions including flat panel mounts, projector mounts, carts/stands, furniture, cables, screen cleaners and a full assortment of accessories. Peerless manufactures over 3,600 products that serve original equipment manufacturers, retailers and commercial installers in 25 vertical markets through direct salespeople and authorized distribution. For more information, visit www.peerlessmounts.com or follow @PeerlessMounts on Twitter www.twitter.com.
SOURCE Peerless Industries, Inc.
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