Flexsteel Industries, Inc. (NASDAQ: FLXS), the nation’s eighth largest furniture manufacturer, announces plans to construct a $12 million, four-story, 40,000 square foot, corporate office building at the corner of Fifth and Bell streets in the Port of Dubuque. Construction of the building is contingent upon approval and financial assistance from governmental entities at state and local levels. If these approvals are received on a timely basis, construction would begin in July 2011 with completion scheduled for early Summer 2012.
“Our corporate offices have been at the north Jackson Street location since 1936,” said Ron Klosterman, President and Chief Executive Officer. “After 75 years, the office facility is out-of-date both structurally and technologically. Our business has changed over the past 118 years and continues to evolve.” “We appreciate the dedication shown by our associates and we are excited about the opportunity to provide them with a greatly-improved working environment, both aesthetically and functionally,” added Klosterman.
Following both Flexsteel’s and the City of Dubuque’s commitment to environmental sustainability, the building will be designed to be energy-efficient and environmentally friendly, including a design that utilizes large windows to make use of natural light. The new corporate office will feature Flexsteel’s world-class products throughout, including our DMI commercial office, Flexsteel hospitality and home furnishings lines. The building will allow for expansion to take advantage of future growth opportunities.
“We see the new headquarters as an ideal place to conduct business and show our visitors the natural beauty of the expanding Port of Dubuque. As we expand on the success of the area and continue our investment in our vital and growing community, we are confident that this is a great location for our corporate offices,” says Justin Mills, Director of Advertising & PR. “The new global headquarters building will be adjacent to the City’s Port of Dubuque parking ramp,” added Mills.
Flexsteel employs 1,250 people worldwide at facilities/offices in Iowa, Arkansas, California, Georgia, Indiana, Kentucky, Mississippi, Pennsylvania, Mexico, China, Thailand and Vietnam. There are 315 employees in Dubuque, Iowa, including the approximately 100 associates that will be relocated to the new building. These employees provide administrative and management services to the global operations of Flexsteel and its wholly-owned subsidiary DMI. Additionally, these employees manage residential and commercial products in areas including design, manufacturing, marketing, supply-chain management, purchasing, engineering, advertising, customer service, credit management, information systems, and accounting.
Flexsteel Industries Inc., is publicly traded on the NASDAQ Global Market (FLXS) and is one of approximately twenty publicly traded companies headquartered in Iowa and only one of two in Dubuque. Flexsteel was incorporated in 1929. With a proven success story that includes sales strength and profitability, Flexsteel designs, manufactures, imports and markets quality upholstered and wood furniture for the residential, commercial office, hospitality and recreational vehicle markets. For more information on Flexsteel, please visit www.flexsteel.com.
Source: Flexsteel Industries
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