Formica Corp. (Cincinnati) announced plans to invest $25 million in new equipment and facility upgrades. The company’s plans include the closure of its facility in Rocklin, Calif. and the sale of the 211-acre site.
"Our plans to close the facility and sell the site were made after an extensive analysis of our North American manufacturing and distribution footprint and reflect the significant excess HPL capacity within the industry and the relative capital investments required to support our facilities," said Frank A. Riddick, III, president and CEO. "We want to assure our customers, distributors and suppliers that we will be taking all the necessary steps to maintain and improve the service levels our customers have come to expect as we go forward. To ensure continuity of operations during the transition, we have undertaken extensive planning, dedicated a large project team exclusively to this project and will build additional inventory reserves. We also plan to open a new, more optimally-located distribution center in order to better serve our Western Region customers.”
